Woodford buys into Zimbabwe investment vehicle

Invesco Perpetual star manager Neil Woodford has committed $25m to a new AIM-listed vehicle which will make investments in troubled African nation Zimbabwe.

Woodford, the group's head of investments, has bought a 29.5% stake in Masawara, a $80m fund set to begin trading on the AIM market in a fortnight, The Australian newspaper reports. Masawara is looking to invest in Zimbabwean mines, oil companies, agriculture, telecommunications and property - as well as take part in privatisations of state-held assets. The Jersey incorporated Masawara owns 40% of capital Harare's biggest commercial property development and almost a third of TA Holdings, another investment company with stakes in agriculture and mining. TA is run by Zimbabwean busin...