Fund profile

TCM Africa High Dividend Equity is a high dividend equity fund, investing in listed shares in the northern and sub-Sahara regions of Africa. Initially it will focus on Egypt, Morocco and Nigeria. In addition, it will invest in Kenya, Ghana, Botswana and Mauritius. In principle, its portfolio will have limited exposure to South Africa.
The funds investment policy will be aimed at achieving capital growth. In principle, the fund does not pay a dividend. Dividends received are reinvested within the fund.
The risk profile is high, due to investments being channelled into frontier/emerging markets in Africa. The relationship between global financial markets and African markets is low, because the latter are less sensitive to international developments. 

To achieve its objective, the Fund invests 95% to 100% of its total assets through TCM Investment Funds Luxembourg in units of TCM Africa High Dividend Equity (Lux). The Fund qualifies as feeder-structure.

TCM has entered into an agreement with Sustainalytics for the screening of the portfolios of the TCM equity funds on ESG criteria (UN Global Compact and Controversial Weapons).

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Latest factsheet
Factsheet Africa 2023-10

Factsheets archive
Factsheet Africa 2023-09
Factsheet Africa 2023-08
Factsheet Africa 2023-07
Factsheet Africa 2023-06
Factsheet Africa 2023-05
Factsheet Africa 2023-04
Factsheet Africa 2023-03
Factsheet Africa 2023-02
Factsheet Africa 2023-01
Factsheet Africa 2022-12
Factsheet Africa 2022-11
Factsheet Africa 2022-10

Additional information
information sheet fundmanagement
outlook 2020 frontier markets
column Africa 2019-11

Legal information
Key Investor Information Document (only available in Dutch)
Financial report 2022 (Caceis)
Semi-annual report 2023
Semi-annual report 2023 (Trustus)
Annual report 2022 (Trustus)
Annual report 2022
Semi-annual report 2022
Semi-annual report 2022 (Trustus)
Annual report 2021 (Trustus)
annual report 2021
Prospectus (only available in Dutch)
Semi-annual report 2021
Semi-annual report 2021 (Trustus)
Annual report 2020 (Trustus)
Annual report 2020
Sustainability risks 2021-03
Conflict of interest policy 2023-03 (Trustus)
Certificate of Incorporation (Trustus)
Certificate of Incorporation


No rights may be derived from this publication. You are referred to the prospectus and Key Investor Information Document for the fund's terms and conditions. These documents may be obtained from the website or the address mentioned below. The manager of the fund has obtained a licence for this fund from the Netherlands Authority for the Financial Markets in accordance with the provisions of the Financial Supervision.

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