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Un fonds commun de placement pour dynamiser le marché d’actions en Afrique de l’Ouest
PROPARCO is helping EDC AM launch a regional mutual fund. The aim is to boost and improve liquidity on the stock market in West Africa by mobilizing the long-term savings of institutional investors.
Client presentation
EDC Asset Management (EAM) was set up in 1997 and is the Asset Management Company of ECOBANK Group. EAM’s activity mainly involves promoting and managing UCITS and, more specifically, mutual funds. EAM currently manages four mutual funds: Ecobank UEMOA Diversifié, Ecobank Rendement and Ecobank obligataire UEMOA and ECO-IFC. EAM is today the second largest management company on the market with 13.1% of market share (N.B.: if Attijari’s SICAV is not included, which is for the group’s internal use, EAM is the leading management company, with 21.7% of market share).
Project description
The project involves launching BRVM’s first guaranteed mutual fund with EDC AM. It is a diversified fund mainly invested in equities, with the aim of boosting the stock exchange in this asset class. The public targeted by the UCITS is made up of institutional investors with liquidity to invest and seeking to diversify their investments without increasing their risk (pension funds, insurance companies, etc.).
Project impact
The project is particularly innovative, especially in Sub-Saharan Africa. Its main objective is to boost BRVM’s equity market and improve its liquidity, by mobilizing the long-term savings of institutional investors. Consequently, the proposed product can allow these investors to become familiar with equity markets, by benefiting from part of the expected increase in prices without putting their assets from savings collection at risk.
16/12/2015
Date of signature of the project
Multi-country Africa
Location
Financing tool
9 650 020 Euros
Amount of funding
Guarantee given of 6,33 Mds XOF
Financing details
FCP GARANTI ECOBANK
Client
CES