New Star has found a single buyer for its suspended Heart of Africa fund and is set to offload the p...
New Star has found a single buyer for its suspended Heart of Africa fund and is set to offload the portfolio for about £14.8m. Subject to final processes, New Star will sell the portfolio's assets for approximately 18p per unit, a discount of nearly 20% to its 22.38p February valuation point. New Star says investors in the fund should receive the proceeds towards the end of April, almost three months after the firm announced plans to close the fund. Managed by Jamie Allsopp since its November 2007 launch, Heart of Africa was suspended back in December last year due to an increase in i...
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