Alquity launches Africa fund with charitable focus

Newly-formed group Alquity Investment Management has launched an Africa fund for UK retail investors that sees 25% of management fees donated to support humanitarian projects in the region.

Alquity Group, a company with $130m (£84.4m) assets under management, launched an investment management arm this year to provide a different type of investment that, it says, will provide clients with long-term double digit returns while "protecting their long-term fiduciary interests". A donation of 25% of the fund's net management fees will go to microfinance projects in Africa aiming to create 100,000 jobs by the end of 2012 and 100,000 jobs annually thereafter. Cash will go to those setting up small businesses or to enhance those already existing in hope that a circle of investmen...