Investec Asset Management, part of South African-owned banking group Investec, runs combined assets of over $30 billion invested in the region with investment offices located in London, Cape Town, Botswana and Namibia.

The UK-domiciled Africa & Middle East Fund will add to Investec Asset Management’s suite of frontier market investment propositions and will mirror the existing Guernsey B Scheme Africa & Middle East Fund, launched in April. The fund will be co-managed by Roelof Horne and Amr Seif.

The fund will draw on a universe of about 25 countries, a population of over a billion people and a market capitalisation of $1.5 trillion. The minimum investment into the fund is £1,000.

A number of fund management companies and banks have recently launched funds playing to growing interest in African assets, buoyed by trends such as strong prices of commodities, of which Africa is a large producer. Companies that have started African-themed funds recently include New Star Asset Management, the UK-listed firm and Scipion Capital, a hedge fund business.