Daily Archives: August 15, 2012

Commodities lead investment performance since financial crisis began

Corn, gold, silver and oil have been the biggest gainers of major financial assets around the world in the past five years. From Deutsche Bank via Also Sprach Analyst:

Emerging & Frontier Markets Headlines 2012.08.15

“Forex bureau operators in Kumasi are accusing wayside currency dealers popularly known as ‘black-marketers’ of killing the business. They blame the Bank of Ghana’s measures to restrict the amount of Dollars the bureaux can sell to the public for the situation.” — Joy Online (Ghana)

Tullow-Ghana spends US$194m on SMEs to improve their capacity and competitiveness — Ghana News Agency

Other PE funds have also taken the opportunistic fundraising approach rather than try to raise big funds all at once – Marlow Capital in South Africa, Blackthorn Capital Partners across Africa, Citadel Capital in MENA and east Africa. Many SME funds are happy to raise USD30m and then put it to work. But Latif argues that this is an unsustainable business model. It is difficult to pay the bills on a USD20-30m fund with a traditional 2% management/20% outperformance PE fee structure. ‘The truth is that there are too many sub-optimal funds in Africa,’ he said. — Africa Assets
Continue reading