HI EMIM Africa Fund

The strategy specialises in the sub-Saharan Africa region by employing a fundamentally driven long short investment approach to equities and bonds (government and corporates). Portfolio allocation is dynamic and flexible reflecting the manager’s best assessment of risk-reward opportunities. Within the equity bucket, the fund makes long investments in growth companies that will benefit from the economic development of the African region. The short book is generally built around single name positions whose business prospect are deteriorating. The bond book is typically invested in Government Bonds issued by African countries, in Local Currency, in order to take advantage of the very interesting yields offered by such bonds, and of the potential appreciation of local currencies. The final portfolio typically includes 20-50 equity positions, with the fund net exposure ranging between zero and +50%.