Renaissance to soft-close Sub-Saharan fund at $150m

Renaissance Asset Managers (RAM) plans to soft-close its Sub-Saharan fund as significant inflows over the past year have taken it close to capacity.

Assets under management now stand at $120m and the fund will be soft-closed at $150m, the group said. The fund, which was launched in October 2010, has doubled in size since the end of July last year. It invests in quality companies in countries such as Kenya, Nigeria and Zimbabwe, aiming to deliver an average 15% return year on year through a diversified portfolio of 60-70 stocks. The fund returned 40.2% over the year to 30 January, against an Equity – Emerging Markets sector average of 8.3%, according to FE. Fund manager Sven Richter (pictured), head of Africa & Frontier Marke...