Mark Mobius Invests in Africa

Mark Mobius, executive chairman of the Templeton Emerging Markets Group and lead portfolio manager of the fund, says: “We believe that Africa’s markets present significant opportunities for development due to a combination of strong economic growth, rising demand for the region’s vast natural resources, and a growing consumer market.

“Africa is expected to grow more than 7% annually in the next 20 years, due to an improving investment environment, better economic management and developed as well as emerging markets rising demand for the continent’s resources, all of which offers a compelling proposition to global investors.”

Ian Wilkins, Franklin Templeton UK country head, adds: “UK retail and institutional investors are showing considerable appetite for frontier markets as they look to access the fastest-growing economies in the world.”

The Templeton Africa fund has received verbal approval from the Luxembourg regulator, the CSSF.

The fund will aim for long-term capital growth by investing in African-listed equities or companies based elsewhere but with principal business activies in Africa.

The fund will be launched as a sub-fund of its Luxembourg-registered Sicav. The minimum investment in the fund is $5,000 or currency equivalent and the AMC is 1.6 per cent.