for any one interested i got this from a UK site..These are the...

for any one interested i got this from a UK site..These are the guys purchasing 9070000 shares at .37c....

The Standard Africa fund will invest in up to 20 African equity markets excluding South Africa and will initially be weighted around 40 percent to the Egyptian Stock Exchange.

Standard Africa fund manager John Mackie said the African Equity fund would also be heavily weighted to Africa's three other major exchanges, Morocco, Nigeria and Kenya but also to a number of other markets with the exception of Zimbabwe, the Ivory Coast and Democratic Republic of Congo.

Mackie said: "Our universe is around 1,200 stocks which will be screened down to around 200 stocks from which we will pick around 45. The key investment themes are resources, telecoms, infrastructure, financial services and tourism.

"The exchanges are quite well regulated but liquidity may become an issue. We are hoping to grow the fund to around $300 million (150 million pounds) and would then consider whether liquidity is having a negative impact."

Mackie said Africa is a long-term momentum growth story. He added: "This is the last emerging market for developers to have a look at." Continued...
The open-ended funds will invest on a five year view. Stanlib marketing director Dylan Evans said: "People look at South Africa as purely a resources play but the country is growing at 5 percent a year and the government wants to get it up to 6 percent which is comparable with other Latin American and Asian countries."

Both funds are Dublin listed and domiciled and will be targeted at multi-managers, fund of funds, hedge funds and high net worth individuals with a minimum initial investment of $50,000 on each although the threshold may be reduced.

Mackie said: "We will keep the minimum investment high on the Africa fund because it is not a man in the street fund but may lower the South African fund minimum investment level because it will have no liquidity problems. We have seen a lot of interest from international IFA networks and one or two UK platforms."