Page 51 - ABN V4i4
P. 51

 African Business Network 51
done well in middle income countries globally then you have an opportunity to become a regional number one competitor and that is interesting.
“In lots of these industries it isn’t winner takes all but the top two or three companies take the lion’s share of the pro t pool and by supporting a company strategically with good governance, capital and M&A it can sprint away from the rest.
“The company can become a regional or national champion as the industry is being
Peter Baird
formed. There are great investment returns on that and in very few places in the world is that still an accessible investment thesis.”
A balanced fund
In terms of the Investec Asset Management funds under his stewardship, Baird has set out a 20-22% dollar IRR target for the fund and around 2.5 times money invested. He says it’s an achievable goal and a good level of return through a cycle compared to other markets. That growth is going to come from both conventional safer investments and the high risk, high reward side of the portfolio.


































































































   49   50   51   52   53