Net institutional flows for Africa-based asset managers exceeded $1 billion in the first quarter, the highest level in four years.
It was the highest quarterly net inflow since the third quarter of 2013, according to the data from research company eVestment.
“With many developed markets assets priced at or near record highs, coupled with institutions looking to diversify portfolios geographically, now could be the time for African firms to capitalise on increased overseas interest,” said the company in a statement.
The company also recorded a spike in investors viewing Africa-based asset managers’ products on its platform, with views rising 64% compared with the previous three months.
“Asset managers in South Africa, Nigeria, Egypt and elsewhere on the African continent should take note: Increasing product views in institutional investment databases like eVestment is often a leading indicator of changes to future flows,” said eVestment.
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