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Africa Fund
Ticker: CAFRX
Inception Date: 11/07/2011
Mutual Fund Overview: Invest in Africa
As the second largest continent in the world and home to over 1.2 billion people, Africa offers a variety of investment options. To strive to capture this unique investment opportunity, Commonwealth Funds developed the Africa Fund, a mutual fund designed to potentially benefit from the emerging African economies and growing consumerism.
This strategy allows the Fund to access companies involved in diverse industries, such as financial products, healthcare initiatives, transportation, tourism, power generation facilities, sanitation and clean water production, and industrial manufacturing. The Africa Fund provides investors the opportunity to invest in the continent of Africa, a region where limited dedicated funds are available.
The process to utilize this potential emergence by investing in companies within selected countries requires a dedicated research effort and analysis of:
• Various government inter-country alliances;
• Separate marketplaces where the financial instruments of the companies are traded;
• Legal framework and governance overseeing these endeavors; and
• Financial systems employed to provide information for the investing public.
After thorough consideration of these and other factors, it is our opinion there are significant opportunities available which we believe represent long term potential. It is our goal to have many of these opportunities available through the Africa Fund portfolio, so you can bring it home.
Investment Objective
The Fund’s investment objective is to provide long-term capital appreciation and current income. It invests primarily in equity and debt securities of Africa issuers.
Fund Performance
Review the Africa Fund daily, monthly, and quarterly pricing and performance.
DOCUMENTS
Fund Investment Holdings
Holdings as of 06/30/22
SECURITY DESCRIPTION | % OF TOTAL NET ASSETS |
---|---|
Capitec Bank Holdings Ltd | 11.5% |
Naspers Ltd | 4.8% |
Impala Platinum | 4.4% |
Shoprite Holdings - Adr | 3.4% |
Mtn Group Ltd - Adr | 3.2% |
Global X Msci Nigeria Etf | 3.1% |
Standard Bank Group - Adr | 3.1% |
Anglo American Platinum | 3.0% |
Discovery Ltd | 2.8% |
Grindrod Ltd | 2.8% |
Bid Corp Ltd | 2.8% |
Alviva Holdings Ltd | 2.7% |
Bidvest Group Ltd | 2.7% |
Gold Fields-Adr | 2.5% |
Sasol Ltd-Sp Adr | 2.3% |
Motus Holdings Ltd | 2.1% |
Clientele Ltd | 2.1% |
Astral Foods Ltd | 2.0% |
Sappi Ltd | 2.0% |
Renergen Ltd | 2.0% |
Firstrand Ltd | 1.9% |
Psg Group Ltd | 1.9% |
Stor-Age Prperty Reit | 1.9% |
Vodacom Group Ltd | 1.8% |
Murray & Roberts Holdings | 1.8% |
SECURITY DESCRIPTION | % OF TOTAL NET ASSETS |
---|---|
Mediclinic Int'L Plc | 1.7% |
Sibanye Stillwater Ltd | 1.7% |
Nedbank Group Ltd | 1.6% |
Alexander Forbes Hldg | 1.6% |
Wilson Bayly Holmes-Ovcon | 1.6% |
Exxaro Resources Ltd | 1.4% |
Mr Price Group Ltd | 1.4% |
Anglogold As-Adr | 1.4% |
Barloworld Ltd | 1.4% |
Oceana Group Ltd | 1.3% |
Endeavour Mining Plc | 1.3% |
Mmi Holdings Ltd | 1.3% |
Coronation Fund Managers | 1.2% |
Multichoice Group Ltd | 1.2% |
Feder-Gt Obl-I 7 | 1.2% |
Aspen Pharmacare Hldg Ltd | 1.1% |
Commercial Intl Egypt | 0.9% |
Integrated Diagnostics Ho | 0.8% |
Crookes Brothers Ltd | 0.8% |
Jumia Technologies Ag | 0.1% |
South African Rand | 0.1% |
Pound Sterling | 0.0% |
Comair Limited | 0.0% |
Portfolio holdings will change due to ongoing management of the Fund. Reference to specific securities or sectors should not be construed as recommendations by the Fund, the advisor, or the distributor.
Distributions
Record date of December 19, 2019, the Ex-Dividend/Reinvestment and Payable Date of December 20, 2019. The NEV reinvestment rate is the return an investor expects to make after reinvesting the cash flows earned from a previous investment.
Ordinary Investment Income per share: | $0.2197 |
NEV Reinvestment Rate: | $8.20 per share |
Minimums
The minimum initial investment is $200 and there is no minimum for subsequent investments.
Risk
Learn about the principal risks of investing in the Africa Fund, which includes market, foreign security, and geographic risk.
The Advisor has agreed to waive certain annual expenses on a contractual and voluntary basis, however, the voluntary reimbursement for the Africa Fund’s expenses are subject to the Advisor’s discretion and may be discontinued at any time.