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New Africa Advisers, an investment firm in Durham, North Carolina, is breaking new ground with its Calvert New Africa open-end mutual fund. Clifford Mpare, chief investment officer, and co-manager Justin Beckett, president and CEO, are digging for undervalued companies with strong upside potential. According to them: "Teljoy, a South African cellular provider, is growing revenues at 90%. Many countries do not have the infrastructure for telephones, so cellular phones are very popular. Also in South Africa, there's Dimension Data, a computer company that carved a niche for itself when foreign outfits like IBM divested. It has had a 56% price increase since we bought it last May. None of the companies we've talked about are available as ADRs, by the way". (source: Fortune magazine)
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This page last updated on January 28 2004. |
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