New Star Heart of Africa

Jonbvn

I hope they have some of the Nigerian banks in the fund, judging by the return some of them have offered recently.

Nigeria: Zenith Bank - Shareholders Reap 600 Percent Capital Gains

Liz_the_Whizz

The prospectus listed countries rather than companies, but Nigeria was a major player, as was Kenya with lesser amounts invested in Ghana, Mauritius and Botswana.

Plus companies from the fund's region which trade on the stock markets of South Africa, London, Toronto and Egypt.

So all we need now is detail;)

Murphy_The_Cat

Liz_the_Whizz wrote: »

The prospectus listed countries rather than companies, but Nigeria was a major player, as was Kenya with lesser amounts invested in Ghana, Mauritius and Botswana.

Plus companies from the fund's region which trade on the stock markets of South Africa, London, Toronto and Egypt.

So all we need now is detail;)

OMG, I've invested in a Nigerian 419 Scam factory :rotfl:.

Jonbvn

Murphy_The_Cat wrote: »

OMG, I've invested in a Nigerian 419 Scam factory :rotfl:.

LOL!

With $100 oil, Nigeria is no longer the basket case it once was. Good article on this in the FT.

http://www.ft.com/cms/s/2/67e92396-2fa1-11dc-a68f-0000779fd2ac,dwp_uuid=f4e3f106-245f-11dc-8ee2-000b5df10621.html

Murphy_The_Cat

The Lion roars, the Lion roars.

Its streaking forward !!!!

Liz_the_Whizz

I've already "committed" my gain....

I bought a calendar from my son's school as part of a fundraiser to build and equip a school in a small village in Malawi.

So at least I'm "re-investing" in the right area;) .

Murphy_The_Cat

Liz_the_Whizz wrote: »

I've already "committed" my gain....

I bought a calendar from my son's school as part of a fundraiser to build and equip a school in a small village in Malawi.

So at least I'm "re-investing" in the right area;) .

good on you, you ethical investor you.

But if Heart Of Africa bombs, will you want the equipment back ?

Liz_the_Whizz

Murphy_The_Cat wrote: »

But if Heart Of Africa bombs, will you want the equipment back ?

I'll ask them to etch my postcode on a couple of pencils just in case

Liz_the_Whizz

The terrible events in Kenya triggered by the disputed presidential election seem finally to be subsiding with Kofi Annan the latest high profile diplomat to lend his gravitas to negotiations between the factions.

But it is a sobering reminder of just how lucky we are to be living in more stable times. My heart goes out to all those affected by the crisis.

My brother-in-law lives there on the coast and reports that things there are very much back to normal, and they hope that soon the tourists will be back. Hopefully calm and reconciliation will be the new order of the day.

I expected a dire impact on the Heart of Africa fund, but it seems there has been a genuine desire from the international community not to snuff out Kenya's nascent position as economic hub of East Africa.

This is echoed by the news received today from Hargreaves Lansdown:

http://www.h-l.co.uk/fund_research/fund_news/pr/article/type/hl_research/articles/1276.hl

Fund manager Jamie Allsopp has invested only c. 10% of its assets in Kenya (in line with the prospectus) and has no immediate plans to change this. The fund has no exposure to tourism, which is the area of the economy which will suffer most in the short term.

He also still has over 30% of the fund in cash - I wondered how it had made a 5% return, he has obviously opened an Icesave account;).

So it's a hold I guess, but a graphic illustration of why it's a high risk investment.

Murphy_The_Cat

Given that I may have missed something substantial somewhere.
Given that there has been a fire sale on stock markets globally over the last couple of days, &
Given that I'm fairly new on the whys and wherefores, ups and downs, ins and outs etc etc of how Stock Markets work

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why is the Heart of Africa fund still performing pretty damned well, and actually went UP yesterday ????**



** or have they just not updated their fund prices for a laugh :rotfl: