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US fund managers set for Zim

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At least 50 Chicago fund managers are set to visit Zimbabwe in the first quarter of 2012 to explore the possibilities of resuscitating the local capital markets that have been inactive for years.

The impending visit by the US delegation follows recent visits to that country by Harare mayor Muchadeyi Masunda and Prime Minister Morgan Tsvangirai.

During their tour they met numerous investors who showed interest in visiting the country.

Masunda said the delegation will be led by Loop Capital chairperson Jim Reynolds (Jr) and will comprise of fund managers interested in investing substantial amounts of funds.

A fund manager is a person responsible for implementing a fund’s investing strategy and managing its portfolio trading activities.

“I met the leader in Chicago when I visited with Prime Minister Morgan Tsvangirai. These investors are long-term investors. They manage serious funds and want to resuscitate the capital markets,” he said.

Masunda said Kunzvi and Sabi dam projects require $450million and $700 million respectively and these were the kind of investors that could bring such amounts of money into the country.

In a brief on its website Reynolds describes Loop Capital as a one of the fastest growing investment banking firms because of the attitude that shapes the organisation’s success.

“We have not compromised in assembling one of the brightest and most experienced teams in the industry. We do not settle for less than the best when creating solutions for each individual client situation, even if that means going “outside the box.

And we tolerate no conflicts or compromises when seeking the best interest of our lifeblood, our clients,” Loop Capital said in its website.

President of Acquity Group Christopher Dalton and Fact Finders group head Kenneth Webb also expressed interest in exploring the opportunities available locally.

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