New fact sheets equity funds
During the month of July, the TCM Africa High Dividend Equity Fund was up 2.2%, while the benchmark index rose 2.4%. The increase was broad-based in Africa with an increase of 3.6% in Egypt, Kenya 1.7%, Nigeria 1.5% and Morocco 0.3%.
The Egyptian share Canal Shipping increased 36.4% in value after better than expected figures. Airtel Africa also rose 8% this month. The Nigerian telecom company reported that after-tax profits more than doubled in the quarter to USD 142 million compared to the same period last year. Airtel delivered strong sales growth in all regions, including Nigeria (up 38.2%), East Africa (32.8%) and Francophone Africa (24.9%).
More news about Vietnam, Africa and the Global Frontier fund can be found in the latest fact sheets of the equity funds:
TCM Global Frontier High Dividend Equity
TCM Vietnam High Dividend Equity
TCM Africa High Dividend Equity