Structural change prompts JPM's pan-Africa launch

JPMorgan has opened a pan-Africa fund to take advantage of the structural changes and rapid growth i...

JPMorgan has opened a pan-Africa fund to take advantage of the structural changes and rapid growth in the region. Africa Equity, which soft launched as a Sicav on 14 May, is run by chief investment officer and head of global emerging markets Richard Titherington. JPM is seeking to add UK distributor status within the next few weeks. Titherington will hold between 75 and 125 names, split 30%-50% in established emerging markets such as South Africa, Egypt and Morocco, 5%-20% in frontier markets and 30%-50% for the rest of Africa. He will look to buy companies with pricing power and en...