Ashburton Investments: Fund buys assets in Nigeria, Egypt

Comment on this story

Ashburton Investments, a fund manager owned by FirstRand, is buying Nigerian banks and Egyptian exporters for the Africa equity opportunities fund it opened to local investors yesterday. The fund, with $29 million (R313m) under management, had bet on Lagos-based lenders such as Guaranty Bank and FBN Holdings to boost returns, fund manager Paul Clark said. It also expected Cairo-based Oriental Weavers to benefit from a falling currency. – Bloomberg

sign up

Comment Guidelines

  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

  5. Verified email addresses: All users on Independent Media news sites are now required to have a verified email address before being allowed to comment on articles. You are only required to verify your email address once to have full access to commenting on articles. For more information please read our comment guidelines