LONDON, January 24, 2012 /PRNewswire/ —
Global institutional investors intend to make their first significant step into Africa over the next five years, raising their investments sharply from current low levels, according to a report commissioned by fund manager Invest AD and written by the Economist Intelligence Unit.
Based on an Invest AD-EIU survey of 158 senior executives at institutions such as pension and endowment funds and insurance firms, the report entitled “Into Africa: institutional investor intentions to 2016” found that the world’s major investors are most excited by the continent’s emerging middle class.
In a video interview with financial broadcaster http://www.cantos.com, head of asset management at Invest AD, Mohammed Al Hashemi, noted that “many of the investors surveyed don’t have any allocations in Africa, yet looking out over the next five years, the bulk of the investors will have an allocation into Africa and about a third will have more than 5% allocation.”
Mr Al Hashemi attributed this increase in investment into Africa to “urbanisation, greater consumer spend, the rise of the middle class” and noted a move away from commodities. In the interview he goes on to address the reduction in risk in Africa, as well as discussing some of the sectors that his funds are investing in.
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SOURCE Invest AD