New Star has suspended dealing in its £29m Heart of Africa fund following an increase in investor re...
New Star has suspended dealing in its £29m Heart of Africa fund following an increase in investor redemptions. The Jamie Allsopp-managed fund, which had £56m in assets at 31 October, has also been hit by a weakening in sub-Saharan liquidity after market closures in Ghana and Nigeria. As a result of the dual pressures on the fund, its depositary Royal Bank of Scotland has decided temporarily to suspend dealing in the vehicle until further notice. Since its launch last November, the fund has fallen 24.4% against an 38.78% decline for the MSCI Emerging Markets Total Return Index. "Whil...
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