Investec partners with Jadwa on first Shariah-compliant Africa fund

Investec Asset Management today announced a partnership with Jadwa Investment, a leading Shariah-compliant investment provider in Saudi Arabia, that will see Investec managing the Jadwa Africa Equity Freestyle Fund*.

The agreement not only builds on Investec Asset Management’s acknowledged expertise in frontier markets, particularly Africa, but will also give Investec Asset Management access to the Saudi market.

Targeting Saudi investors who are looking to capitalise on Africa’s renaissance, the Jadwa Africa Equity Freestyle Fund will offer investors access to the dynamic investment opportunities available in South Africa and other major African markets. It is the first Shariah-compliant Africa fund offered by any institution in the region and will invest in listed companies spanning the African continent.

Hendrik du Toit, CEO of Investec Asset Management, said:

“This partnership is exciting to us on several levels. Not only is it endorsement of our leadership in investing in frontier markets, particularly in Africa, but it fits into our broader strategy over the longer term to introduce more specialist Shariah-compliant products to our clients. Furthermore, this partnership allows Investec Asset Management to tap into the Saudi investor base.

“We look forward to a long and successful partnership with Jadwa.”

Mr. Fadi Tabbara, Head of Asset Management and CIO of Jadwa Investment, said:

“Africa has experienced tremendous economic and political reform and is now reaping the benefits of its increasingly positive business environment. We believe it is the opportune time to invest in the continent.

“We truly believe in specialisation, and that is the reason we have selected Investec Asset Management, with its established specialist investment expertise in Africa, to sub-manage the Jadwa Africa Equity Freestyle Fund”.

* Approved by the Saudi Arabian Capital Markets Authority