Fact sheet: Ashburton Africa Eq Opps

Fund information
Fund name
Ashburton Africa Equity Opportunities D Acc USD
Fund manager company
Ashburton Investments
Fund type
Offshore Fund
Fund manager
  • Mr. Paul Clarksince 21/05/2013
Fund objective
The investment objective of the Sub-Fund is to maximise risk-adjusted returns over the long run while preserving capital, regardless of market conditions, by investing in companies whose primary source of income is from, or whose major assets are based on, the African continent. It is anticipated that at least 80% of the Fund will be invested in companies listed on African stock exchanges and the balance on stock exchanges outside Africa. The Fund can also invest up to 10% in selected investment opportunities, such as pre-IPO opportunities or unlisted investments.
Benchmark
  • MSCI Emerging Frontier Markets Africa ex SA Index
Investment style
None
Investment method
Shares
Quick stats
1 Year return
-25.1%
1 Year rank in sector
257/258
Sector
FO Equity - Emerging Markets
Yield
-
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
1.95%
Fund size
£17m (£20m last year)
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
181
Top in this sector
Fund name1 Year
Charlemagne Magna New Frontrs46.8%
GAM Star Nth of Sth EM Eq43.1%
HSBC GIFEconScaleIxGEMEq42.2%
Dimensional EmMkt Tgt Val38%
Schroder ISF QEP Gl Eg Mts37.1%
...more in FO Equity - Emerging Markets

Performance snapshot

Holdings snapshot

  • Egypt45.2%
    Nigeria20.9%
    Kenya16%
    Mauritius5.8%
    Uganda4.1%
  • Financials38.8%
    Industrials14.4%
    Telecommunications Utilities10%
    Consumer Staples9.8%
    Energy8.4%
  • Egyptian Equity45.2%
    African Equity45.2%
    Middle East & African Equities7.8%
    Money Market1.9%

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-17%-12.9%-22.3%-25.1%-47.2%-
Sector-2.6%-4%5.4%9.2%-6.3%3.1%
Rank within sector263 / 263266 / 267262 / 263257 / 258209 / 210-
Quartile4th4th4th4th4th
Calendar performance
 YTD - 20162015201420132012
Fund-23.8%-29%-7.3%--
Sector10.6%-14.3%-1.4%-0.7%14.2%
Rank within sector257 / 258241 / 241198 / 215--
Quartile4th4th4th
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
-16.68
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
0.52
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
-0.04
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
18.3
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
18.02
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
-0.92
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.15
Price movement
52 week high7.67
52 week low5.8
Current bid price-
Current offer price-
Current mid price5.84
Region
1Egypt45.17%
2Nigeria20.93%
3Kenya16.04%
4Mauritius5.76%
5Uganda4.06%
6Africa3.74%
7Morocco2.42%
8Money Market1.88%
Industry sector
1Financials38.79%
2Industrials14.38%
3Telecommunications Utilities9.97%
4Consumer Staples9.77%
5Energy8.41%
6Consumer Discretionary7.82%
7Materials4.93%
8Utilities4.05%
9Money Market1.88%
Asset type
1Egyptian Equity45.17%
2African Equity45.15%
3Middle East & African Equities7.8%
4Money Market1.88%
Individual holdings
1EL SWEDY ELECTRIC CO7.67%
2COMMERCIAL INTL BANK(EGYPT)S.A.E6.12%
3ORASCOM CONSTRUCTIONS INDUSTRY5.72%
4EFG HERMES HLDGS5.59%
5CENTUM INVESTMENT CO5.09%
Management
Fund manager group
Ashburton
Fund manager company
Ashburton Investments
Fund type
Offshore Fund
Fund objective
The investment objective of the Sub-Fund is to maximise risk-adjusted returns over the long run while preserving capital, regardless of market conditions, by investing in companies whose primary source of income is from, or whose major assets are based on, the African continent. It is anticipated that at least 80% of the Fund will be invested in companies listed on African stock exchanges and the balance on stock exchanges outside Africa. The Fund can also invest up to 10% in selected investment opportunities, such as pre-IPO opportunities or unlisted investments.
Benchmark
  • MSCI Emerging Frontier Markets Africa ex SA Index
Investment style
None
Investment method
Shares
Fund manager
NameSinceBiography
Mr. Paul Clark21/05/2013Paul has over 15 years of experience in the African listed equity markets, possessing almost unparalleled experience as compared to his peers. He started his investment career with Standard Corporate and Merchant Bank’s Asset Management division where he served as a research analyst and specialist unit trust fund manager for 2 years. He subsequently joined HSBC Equities South Africa as an equities analyst where he researched South African–based industrial resources companies with global operations for 5 years. Paul joined the African Alliance Group in April 2004 as Head of Research with responsibility for the overall African research product of the Group as well as developing research in new countries where the Group opened businesses. He was instrumental in the launch of the Africa Pioneer Fund in June 2007, and was the lead portfolio manager on the fund from its inception until December 2011. Paul joined Ashburton in South Africa in January 2012. Paul holds a Bachelor of Engineering (Chemical) degree from the University of Stellenbosch as well as a Bachelor of Commerce (Accounting) degree from the University of the Witwatersrand, and is a CFA charter holder.
Compliance
Transparent for Austrian Tax, Reporting Fund Status, UCITS IV Compliant
Domicile
No data available.
Fund for sale in
Switzerland, Denmark, Finland, United Kingdom, Guernsey, Israel, Jersey, Luxembourg, Norway, Offshore, United Arab Emirates, United States, South Africa
Ashburton Africa Equity Opportunities C Acc USD
Initial charge-
Annual charge-
Min single investment£0
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)-
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price5.9227
CurrencyUSD
Price updated07/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeJETM
Ashburton Africa Equity Opportunities D Acc GBP
Initial charge5.26%
Annual charge1.5%
Min single investment£10,000
Min regular saving£0
Available in ISAYes
Ongoing charge (OCF)-
Total expense ratio (TER)2.01%
Bid price-
Offer price-
Mid price0.9023
CurrencyGBP
Price updated07/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeN7NB
Ashburton Africa Equity Opportunities D Acc USD
Initial charge5.26%
Annual charge1.5%
Min single investment£10,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.95%
Total expense ratio (TER)2.01%
Bid price-
Offer price-
Mid price5.8363
CurrencyUSD
Price updated07/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeJTMK
Ashburton Africa Equity Opportunities I Acc GBP
Initial charge5.26%
Annual charge1.5%
Min single investment£100,000
Min regular saving£0
Available in ISAYes
Ongoing charge (OCF)-
Total expense ratio (TER)2%
Bid price-
Offer price-
Mid price0.9018
CurrencyGBP
Price updated07/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeN7NC
Ashburton Africa Equity Opportunities I Acc USD
Initial charge5.26%
Annual charge1.5%
Min single investment£100,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)1.91%
Total expense ratio (TER)2%
Bid price-
Offer price-
Mid price5.8344
CurrencyUSD
Price updated07/12/2016
TypeAccumulation
Institutional or retail classInstitutional
Domicile-
Citi codeJTML
Ashburton Africa Equity Opportunities R Acc USD
Initial charge5.26%
Annual charge2%
Min single investment£10,000
Min regular saving£0
Available in ISANo
Ongoing charge (OCF)2.59%
Total expense ratio (TER)2.68%
Bid price-
Offer price-
Mid price5.5086
CurrencyUSD
Price updated07/12/2016
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeJETL
Data provided by

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