Investec has set up an African bond fund, Investment Week reports. The Luxembourg-domiciled Investec GSF Africa High Income Bond fund will be managed by co-heads of fixed income John Stopford and South Africa-based Andre Roux. The fund’s majority holdings are in South African sovereign and corporate debt.
The model portfolio has exposure to a range of established African economies, with maximum currency exposure to the South African rand. The specialist fund has a flexible mandate, enabling the managers to run exposure to either local currency or dollar-denominated debt.
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