FMG (EU) Africa Fund lost 0.5% in the 2nd Quarter of 2017

FMG (EU) Africa Fund lost 0.5% in the 2nd Quarter of 2017 Kenya was the top performing market in the second quarter, rallying 18% on the back of telecom giant Safaricom reporting impressive growth numbers. Mauritius gained +17%, boosted by the tier 1 bank MCB rallying...

FMG (EU) Africa Fund gained 0.4% in the 1st Quarter 2017

FMG (EU) Africa Fund gained +0.4% in the 1st Quarter 2017 African markets were all over the place at the start of the year, but closed the quarter mostly flat. Kenya was down a massive 13% at one point, and Egypt up 19% but both closed the quarter flat. We added...

FMG (EU) Africa Fund lost 6.1% in the 3rd Quarter

During the third quarter most African markets joined the global equity market rally. African currencies were also broadly stronger with the exception of the Nigerian Naira, which weakened by 12%. The top performing markets were Egypt +22%, Morocco +8% and Mauritius...

FMG (EU) Africa Fund lost 6.9% in the 2nd Quarter

Performance across the African market was negative across the board, exacerbated by weakening currencies. Tunisia was the worst performing market down -14% but all eyes were on Nigeria that plunged -13%. Following a prolonged period of uncertainty, the Central Bank of...