AFRASIA CAPITAL MANAGEMENT
Established in 1991, and with over 22 years of solid investment management experience, AfrAsia Capital Management Ltd (ACM), formally known as Axys Capital Management, is one of the leading asset managers in Mauritius. Over the years, ACM has built a sound reputation for delivering innovative investment solutions backed by a solid track record.
The Company is regulated by the Financial Services Commission and currently holds three licences namely Investment Advisor (unrestricted), Collective Investment Scheme Manager and Distributor of Financial Products. The organisation’s capabilities are broad and wide-ranged, as follows:
ACM’s portfolio management capabilities encompass access to global markets and all asset classes, on both a discretionary and non-discretionary basis. Assisted by a very-experienced team, ACM boasts a solid reputation in delivering returns across asset classes and regions. ACM conducts both a top-down and a bottom-up approach for its portfolios under management and advocates a rigorous monitoring of markets which allows ACM to swiftly adapt to changing market conditions.
ACM has extensive experience in managing pension funds, with a client base that includes major companies in different sectors of the economy, and the performance across pension portfolios has been commendable.
ACM, under its licence of CIS Manager, also manages six in-house funds to-date, and one jointly with its sister company, AfrAsia Corporate Finance, to offer a diverse geographical exposure and asset classes to investors while catering for differing risk profiles. Three of its CIS are listed on the Stock Exchange of Mauritius, namely ACM India Focus Fund, ACM European Ltd and ACM Aussie Ltd. Apart from its own funds, ACM also uses partners’ and brokers’ funds to complete its holistic offer.
Developments over the financial year
Over the financial year 2013-2014, ACM was subject to a major re-hauling in its structure. In October 2013, the Company (which was previously known as Axys Capital Management with 50% of its stakes owned by the Axys Group) was bought wholly by the AfrAsia Group. ACM is now a fully-owned subsidiary of the AfrAsia Group. Within the framework of its re-structuring plan, ACM has embarked on a recruitment exercise and to date has nine investment experts, assisted by five back-office professionals and headed by the CEO. All of them possess extensive experience in financial markets, backed by a solid educational background.
Riding on the wave of new blood and enthusiasm, ACM has launched many innovative products in line with the market conjuncture.
Collective Investment Schemes (CIS)
On the CIS front, ACM launched the ACM Global Bond Fund to cater for volatility in markets and to answer investors’ quest for fixed-income instruments. Since its creation in November 2013, the Fund has delivered appreciable returns of 4.4% in USD as at 30th June 2014.
ACM continues its high-quality management of its other existing CIS funds. Over the past financial year, the in-house CIS have delivered strong returns as shown in the table below:
|ACM Global Bond Fund*||USD||5.99%|
|ACM High Yield Fund||MUR||5.71%|
|ACM Aussie Growth Fund||AUD||25.53%|
|ACM European Fund||EUR||12.39%|
|ACM India Focus Fund||USD||31.67%|
|ACM Global Equity Fund||USD||14.10%|
*ACM Global Bond Fund started on 21 November 2013. However performance over one year has been calculated based on our in-house strategy.
ACM has also launched an innovative retirement product – Horizon My Retirement Plan. The objective of the Plan is to provide a long-term financial planning tool to individuals based on their retirement goals. The Plan works in two phases: the investment phase whereby the investor contributes monthly amounts to accumulate savings for retirement and the benefits recoupment phase whereby the investor can either cash in all accumulated funds as a lump sum or take the money as monthly instalments. The Plan is quite innovative in the sense that the investment strategy is based on life-styling, that is, contributions of the investors are allocated in different strategies based on age, and, as an investor moves from one age band to another, the funds are re-allocated accordingly. In that effect, a ‘young’ investor would have his/her funds vested into an aggressive strategy more geared towards equity markets, and as and when he/she approaches middle-age, his/her funds would have more exposure to fixed-income instruments.
Furthermore, ACM has enlarged its array of fund providers and has signed agreements with reputable asset houses. These fund houses provide ACM with more specialised funds, which will assist fund managers in their portfolio management and keep on delivering stellar returns to investors.
ACM, being now fully integrated within AfrAsia Group, aims for continued synergy within the Group and delivers innovative products to suit market needs. In that vein, some new CIS are in the process of being created to cater for fluctuating market conditions.