Thursday, 19 February 2009

New boutique to launch Africa and Middle East funds (Registration required)

Silk Invest, a new London-based boutique founded by some experienced fund industry figures, is launching two funds - one focused on Africa and one on the Middle East.

Among those who have set up Silk Invest is the former head of Commerzbank's asset management arm, Heinz Hockmann, who is chairman of the new firm. Chandima Mendis, a successful emerging bond manager who left AXA last year, is also involved in the enterprise as a member of the supervisory board and director of strategy. Meanwhile the CIO of the company is Daniel Broby, formerly global head of asset management at Renaissance Investment Management.

CEO of the new boutique is Zin Bekkali, whose Dutch Moroccan roots are representative of the diverse origins of a Silk Invest team which includes fund managers from South Africa, Egypt, Nigeria, Cameroon and Morocco. 'We attracted some senior people and then surrounded ourselves by people with local expertise,' Bekkali says.

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