Thursday, July 2, 2009

Imara launches African resources fund

As a followup to "How to Buy China Without Overpaying".
From Reuters India:
Botswana-based financial services group Imara launched an investment fund on Thursday focusing on African resources, the latest in its series of niche investment vehicles on the continent.

"The new fund is a renewed expression of long-term confidence in Africa as an important investment destination," Imara Chief Executive Mark Tunmer said in a statement.

The Imara African Resources Fund (IARF) was seeded six months ago by Imara executives and has positions in companies with underlying assets in South Africa, Zimbabwe, Botswana, Tanzania, Ghana, Mali and several other African countries.

Its strategy is to target small-to-medium-sized mining and other companies that can fall below the radar of large international funds that tend to allocate resources towards the major resource companies....MORE