Silk Invest wins OFI ‘BRICA’ mandate

8 Sep 2011
Allocations, News, OFI Asset Management, Silk Invest

OFI Asset Management has hired Silk Invest to manage a portfolio of Arab and African equities as part of its existing Multi Select BRIC Fund. The fund will now be rebranded to become a BRICA fund, with Silk Invest managing the ‘A’ segment.

The initial value of the mandate has not been revealed, but Silk Invest CIO Daniel Broby confirmed that it is “not less than $10m”.

“The investment strategy is bottom-up stock picking focused on the componentsthat are going to benefit from the industrialisation of the African markets,” Broby told Mena FM.

He added that the fund will be investing in the region’s key markets including Saudi Arabia, UAE, Qatar, Morocco, Egypt, Nigeria and Kenya.

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