Alquity Group fund set to support microfinance projects

Alquity Group, which was formed in November 2009 through the inclusion of Smoothed Growth Investment Management and Alquity Investment Management, is to launch a new fund which aims to support microfinance projects in Africa, as well as providing a normal return to investors.

UK regulated Alquity Group (the Alquity name is an amalgamation of Altruism and Equity) is chaired by Paul Robinson, a trustee of the One Foundation and a director of the consultancy Global Ethics. CEO Paul Freer has long experience working with major banking groups including Barclays, in emerging markets.

Smoothed Growth Investment Management, with offices in London and Hong Kong, offers three fund ranges, each catering to different investment requirements and risk appetites. Some provide exposure to market driven assets or blend market and non market correlated investments. The firm has some $130m under management.

Alquity's new fund, which is yet to be authorised, will be launched as a UCITS III, open to both institutional and retail investors.

It will aim to deliver attractive returns through sustainable investment, alongside a commitment to "transform lives". Alquity aims to create 100,000 jobs in Africa then 100,000 annually by donating a minimum of 25% of its revenue from the Alquity fund range to charitable projects, including microfinance initiatives.

The One Foundation, founded by entrepreneur and financier Duncan Goose, will manage the charitable projects.