View more on these topics

JM Finn applies themes to Africa

JM Finn has launched its fourth retail fund, the CF JM Finn Africa fund.

This fund takes a thematic approach to companies across Africa. It will invest in equities and bonds issued by companies based in Africa or those based elsewhere whose main activity is trading with African economies. The fund can also invest in securities issued by African governments.

Fund manager Anthony Eaton will explore the themes of globalization and the emergence of the African consumer in this specialist African portfolio. He has invested in emerging markets, including Africa, for the past six years while running the JM Finn Global Opportunities fund. He joined JM Finn in 2001 and previously worked at Greig Middleton.

Eaton believes Africa will benefit from globalisation because it is a major supplier of raw materials and commodities to the rest of the world. He will also invest in firms that supply consumer goods and services to African countries with big populations and higher incomes, such as Nigeria, Egypt, Kenya and South Africa. The majority of the portfolio will comprise bigger companies, but there will also be some exposure to less liquid medium sized and smaller companies.

Eaton will initially invest in the same African companies he holds in his global opportunities fund, but will add more stocks to improve diversity. Around 70 per cent of the portfolio will go in to companies based outside Africa, but Eaton is able to invest up to 60 per cent of the fund in equities on local African markets excluding South Africa. The maximum weighting for South Africa is 50 per cent.

JM Finn says that its global fund invests 30 per cent in Africa and believes the region has developed sufficiently to attract investors in to a dedicated fund. The region may have strong long-term growth potential but problems such as political instability and corruption make it high risk.



Financial services stalwarts get new year’s honours

CBI director general Richard Lambert has been awarded a knighthood and BSA director general Adrian Coles an OBE in the new year’s honours list. Treasury head of the financial stability team Kirstin Baker and City figure Philip Remnant get CBEs.

Former BlackRock star Graham Birch moves up at Petropavlovsk

Former BlackRock manager Graham Birch has become the senior independent non-executive director of Russian gold miner Petropavlovsk. Birch retired as head of BlackRock’s natural resources team in 2009, where he had responsibility for about $40 billion of assets.

He became a non-executive director of Petropavlovsk, formerly known as Peter Hambro Mining, in February 2010. He replaces […]

Members vital to meet review goals

Happy New Year. As is customary at this time of year, people will review what has gone before and think about whether this means changes need to be made to imp-rove and progress. As you will have read in the pages of this publication, Aifa started the process early as in December we announced a […]

F&C calls on shareholders to vote against Sherborne

F&C has called on shareholders to vote against Sherborne Investors’ plans remove chairman Nick MacAndrew and Brian Lacombe from the asset managers’ board. Sherborne, which has built up a 17.5 per cent stake in the asset manager, wants to appoint founder Edward Bramson as well as Ian Brindle and  Derham O’Neill to the board, with […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm