The country of Ghana set to launch it’s first hedge fund! TiKowrie Capital Limited, which is operated by Maxwell Gidi, a former assistant manager of the broker-dealer department at Ghana’s Securities and Exchange Commission said in an interview with Bloomberg: “The appetite of investors in the country has grown over the years, they’re looking for more sophisticated avenues of investment.”
Gidi plans to raise $1.5m USD over the initial stages and accumulate $10-20m USD over the next 3-5 years. Of course, much will depend on the performance of the fund as he hopes to grow the asset base even larger, but we wish him all the best in his success operating the first fund of its kind emanating from the West African nation.
The hedge fund will trade in U.S., Canadian and Australian dollars as well as the euro, British pound and yen, Gidi said. It will also buy and sell gold, copper and palladium and trade in sovereign debt through London-based CFH Clearing Ltd., its prime broker.