Communication for Sustainable Development

Frontier mirror funds

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Friends Provident International has launched two mirror funds to help clients benefit from the economic growth of frontier markets and global environmental sustainability themes.

Jim Henning, funds marketing and research manager, unveiled the Alquity Africa fund and Pictet Environmental Megatrend Selection fund. Both are domiciled in the Isle of Man and principally available to offshore investors in Asia and the Middle East.

The Alquity Africa fund invests in a portfolio of companies across the African continent. A minimum of 25 per cent of the fund's net management fee of 1.9 per cent is donated to support development initiatives in the areas in which it invests. The fund's goal is to help create 100,000 sustainable jobs in Africa by 2012.

The Pictet Environmental Megatrend Selection fund invests in companies that help to sustain and provide natural resources to cope with increasing population growth and urbanisation pressures. It seeks companies that benefit from four long-term sustainable investment themes - water, clean energy, timber and agriculture.

Mr Henning said: "We believe these two mirror funds will appeal to forward-thinking investors for a variety of reasons. Finding sustainable and attractive growth opportunities in the 21st century will become more challenging. These funds aim to meet those challenges.

"We hope the funds will not only produce a positive benefit for mankind and the environment, but also a positive return for investors."

Ruth Whitehead, principal of London-based Ruth Whitehead Associates, said: "Both sound positive. Investing in Africa could potentially be good in terms of return. Despite the political problems it still has long-term potential."

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