OMGI shuts Pan African fund due to 'limited prospects'

Closes on 28 February

Old Mutual Global Investors (OMGI) has closed its $53m Pan African fund as the firm said it had become "too small" to be managed efficiently.

The firm said there were "limited prospects" for gaining future assets and it was in the best interests of the shareholders to shut the fund. A spokesperson from OMGI said: "We have written to shareholders in the Old Mutual Pan African fund to advise that we will be closing this fund on 28 February. The demographic trends powering Africa's investment case "With assets standing at $53m, we believe this to be too small for the fund to be managed in an economically efficient manner. Additionally, we believe there are limited prospects for attracting new investments in the future. "...