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Despite the recent turmoil in which many African countries find themselves, global investors showed strong interest in investing in Africa’s real economy, as evidenced by the increase in private equity fund raising in 2015. Total value of Africa PE funding, by year of final close*, was US$ 4.3billion.
“Is the country going to collapse and should we be taking all our money offshore?” “Given the rand has weakened so much, is it too late to take money offshore?” “How much money should we take offshore for investors?”
With the myriad of data available to investors when selecting which fund best suits their investment profile, it is difficult to know which data point to use. Rolling returns, however, give a clearer track record of how a fund has performed and potentially how it will perform in the future.
At its meeting earlier this month, the Reserve Bank of Australia (RBA) decided to keep its benchmark lending rate at an all-time low of 2% for the 10th consecutive time. As the year progresses, we believe the RBA could likely reach or break its record of 17 monthly meetings in a row without a rate change. (The record was set in 1995-1996, when the benchmark cash rate stood at 7.50%.) We believe the RBA doesn’t feel the need to act on its easing bias because the Australian economy remains reasonably healthy, albeit at a pace of growth that is at the lower end of what policymakers would like to see.
The strongest deterrent against FSP compliance missteps is or should be: