African dream

Launches of funds focused on Africa have proceeded apace at roughly one a month for the last quarter, generating wider interest. But will they perform well? What skills are required to manage one? Should attention focus instead on a global emerging markets fund that touches on Africa? Sara Utecht talks to the market players

Civil war, drought, disease, corruption and poverty - all words that come to mind when you think of Africa. Not a likely place for funds to invest, one might think. Five years ago you would have been right, investors in the region say, with fund activity virtually non-existent, no new funds and a decline in assets under management.

But now with the African economy growing on average at 5% a year, there are plenty of new players in the market, with at least one new Africa-related fund springing up