Alternative asset management firm, Duet Group, and pan-African Standard Bank are planning to unveil a closed-ended Africa fund in March 2011, Fund Strategy reports. The Duet Africa Index will seek to follow a benchmark index composed of companies listed on the stock exchanges in sub-Saharan African countries, excluding South Africa.
The vehicle may target a minimum size of $100 million and will be listed on the London Stock Exchange. JP Morgan has been appointed as the fund custodian and administrator, while Smith & Williamson Corporate Finance will act as sponsor for the fund.
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