Africa
Frontiers Fund

A local network of attorneys, accountants, and entrepreneurs is used to identify niche, small-cap, and event-driven opportunities across Kenya and East Africa.

Investing in Africa

Global investors can no longer afford to ignore the growth of Africa. The total economic output of Sub-Saharan Africa is predicted to reach over $2 trillion by 2020, up from just $300 billion in 2000. Pro-market economic reforms, favorable demographic developments, and the adoption of new technologies also contribute to a steadily improving investment environment. The rise of the middle class is also likely to boost returns in Africa over the next several decades. IFC expects Africa’s combined middle and high-income groups to reach 160 million people by 2030. That’s an increase of about 100 million, more than the entire population of Germany.

Ashton Global Investment Management

market reforms and strong demographics

Why East Africa?

a multi-strategy investment fund focused on East Africa

Portfolio manager Joel Mwaura uses a value investment strategy to identify undervalued securities trading on the regional stock exchanges. The portfolio also invests in special situations in specific securities. Often, these ideas are related to land disputes, corporate actions, or similar catalysts.

The portfolio will also make both private equity and debt investments in privately-held companies across the region. The investments will target private school education, real estate, and agricultural products including coffee, macadamia, and avocados.

Africa Frontiers Fund

Fund Overview

A multi-strategy framework that identifies undervalued, niche investments in East Africa

Focused on East Africa with a special interest in Kenya

Seeking attractive valuations, with a moderate level of quantifiable downside risk

Liquidity and capital safety will be of paramount importance

Ashton Global Kenya

Africa Frontiers Fund

Investment Strategy

Africa Frontiers Fund

Fund Target Allocation

Public equities, government bonds, and real estate assets will make up the largest holdings (50% to 75%)

Government privatizations in power, healthcare, and municipal infrastructure (25% to 50%)

Event-driven special situations on the Nairobi Stock Exchange (up to 10%)

Prudent Risk Management

Joel Mwaura, Portfolio Manager

Joel is an experienced accountant who has worked for Big Four Accounting firms for five years as a member of financial services audit teams for commercial banks, investment companies and pension funds. He is a member of The Institute of Internal Auditors (The IIA) and Global Association of Risk Professionals (GARP).

Strong Pipeline of Opportunities

Ashton Global Real Estate in Africa

Fast Growing Demographics

Real Estate Remains Strong

middle class population driving domestic demand

Agricultural Sector Enjoys Strong Fundamentals

Ashton Global ESG Investing
Ashton Global Infrastructure in Africa

Infrastructure Opportunities Remain Robust

Road and Power Projects have strong fundamentals

Investing in Africa

Power and Infrastructure in Kenya

Power Africa anticipated that demand for electricity would double between 2015 and 2020. Increased industrialization and better grid access is driving demand for electricity.

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Request more information

An investor should consider the fund’s investment objectives, risks, charges and expenses carefully before investing or sending money. This and other important information about the fund can be found in the fund’s prospectus, or, if applicable, the summary prospectus. Any decision to invest in Ashton Global funds should be made on the basis of the current prospectus, which is available on request at info@ashtonglobal.com. Read the prospectus carefully before investing. All investing involves risk, including potential loss of principal. There is no guarantee that the fund will achieve its objective. 

Our Managers

Direct Lending

The fund seeks to provide short-term working capital and growth financing to SMEs operating in developing markets. We have a four pillar investment strategy focused on disciplined underwriting, better structuring, intensive loan monitoring and risk mitigation. 

Invest in Private Credit

Litigation Finance

Litigation finance is still a relatively new asset class with room for growth. Cases frequently take three to five years to reach a settlement, and the secondary market is still developing. The growing popularity of litigation finance has been fueled by billions of dollars from hedge funds, private equity and other institutional investors.

Invest in Legal Settlements

International Small-Cap

The deep-value tilt to our investment strategy lowers portfolio volatility

The Ashton Global International Small Cap Fund seeks to generate strong returns by investing in undervalued small-cap and early stage companies across emerging Asia. With a concentrated portfolio of public and private securities, the fund has delivered strong returns since its inception in 2014.

Value investing in Asia