New Star Heart of Africa

beingjdc

I was considering it, but I've backed away for now - I want to see what the Buy/Sell spread looks like before I go in, given their statements about the lack of liquidity. If it turns out to be OK, then I might go in. If it's useless, then I'll just buy shares in Lonrho as my African investment.

purch

Aren't they slightly different, geographically?

Yes....SA would like to think it is the 'Heart' of Africa but it is not the region that this fund is aiming itself at

Obviously though, the economies that this new fund is targeting will also add benefit to the Southern African economies as/if they start to develop and grow

Whatever happens will be long term, and the economy most likely to benefit from development and growth elsewhere in Africa is South Africa so wherever you choose to Invest you will need to be in it for the long haul

jamesd

Depends which bits of Africa you want to be in. For more of central Africa Lonrho is an idea.

For now this fund seems to be charging a high premium because it's the only one authorised in the UK. Similar for the New Star Global Property fund. Seems as though New Star is trying to push the boundaries of just how high fees can be before investors reject them. I already have and it's turning me off New Star as a whole.

I'll wait for competition at decent fees or invest in other ways.

Murphy_The_Cat

Oh dear, to date our 'punt' hasn't exactly set the world on fire 1

Heart Of Africa.

tipsychick

At least you're only £50 down and the picture of the lion still looks grrrreat!

Whilst I'd like to invest in Africa, I didn't go for this fund in the end because of the fees. I'm only starting out but I seem to have read a lot of cautionary articles about fees really eroding your profits in the long-term.

Liz_the_Whizz

Murphy_The_Cat wrote: »

Oh dear, to date our 'punt' hasn't exactly set the world on fire 1

Heart Of Africa.

Don't worry, this one's a slow burner :cool:

Murphy_The_Cat

Liz_the_Whizz wrote: »

Don't worry, this one's a slow burner :cool:

tipsychick wrote: »

At least you're only £50 down and the picture of the lion still looks grrrreat!

gratuitous picture of a lion to brighten up the ISA Forum

Liz_the_Whizz

BTW fellow investors,

I checked my H-L portfolio yesterday and my order for the Heart of Africa fund is still pending - so not lost any money (yet!).

Has anyone else who has invested via H-L actually got any further?

Murphy_The_Cat

Liz_the_Whizz wrote: »

Has anyone else who has invested via H-L actually got any further?

I have !!!!!

Mine went through at 47.62 pence per unit, rather than 50p per unit, so, to date, I'm only £2.31 down :j:j:j

whiteflag_3

Debt_Free_Chick wrote: »

To be fair, the high fees will largely reflect the actual costs of dealing in undeveloped financial markets - typical, with "emerging economies". In the UK, US etc our processes are pretty slick and efficient, hence lower dealing costs.

However, note that New Star are also using a performance related fee. So they take a decent chunk extra, when (if?) the fund performs very, very well.

I really fancy a slice of this, but my ISAs are through Fidelity. Might have to set one up with HL now!

Note also, that they will close the fund when they've got £100m - but might reopen it again. You may get only one chance to get in!

Hi

Long time not speak DFC

Just a couple of points- If your with Fidelity, you can use the Fundsnetwork platform for switches etc to non Fidelity Funds @ 0.25% switch fee

I dont think the New Star Africa Fund can be held in an ISA

Why has no one mentioned the Fidelity Emerging Europe, Middle East and Africa Fund ?
http://www.fidelity.co.uk/pdfs/emea/emea_fact.pdf

Hope this is useful