Some of the reasons I am Bullish.
1) Micro- Lending changing face of Africa with agricultural & productivity improvements from very low base. Purchasing chinese goods like generators, etc... Also increasing tourist trade ( Der Spegiel)
2) Potential for LARGE oil find similiar to offshore Brazil find. ie Petrobras
3)Middle East reforms in labor & human rights laws. Women may soon have right to drive alone.
4) Trade agreement pending with USA.
5) Israel ...new Hooters franchise. Dubai getting Hooters in 2008....see www.hooters.com
6)Saudi...putting together 1 trillion USD sovereign wealth Fund and considering relaxing ownership restrictions.
7) Major LNG development.
8) Large Cash balance in Dubai Sovereign Wealth and IMO purcased some VERY attractive properties in Canada & around globe. Check out www.ameinfo.com
I'm optimistic. Despite the recent violence in Kenya which I find disturbing, mid east oil money continues to feed investments in other sectors. Africa's natural resources are vast and some governments are getting smarter plus feeling the pressure from foreign governments to get their act together.
I have been very pleased with the folks at TRP, they have proven a good track record for my investments for most of the decade so far. This current offering will most likely gain in value considerably. All of your insights about this fund taken as a whole, are very convincing that this fund will run rampant in the market. I suspect most of us have a rather long time line for this fund to bring us all a healthy reward for our perseverance to hold it.
I bought a little at $10.5 so far so good. I found out about the fund because I have been investing with T Rowe since 1995, That's when I started buying the Latin America Fund. Over the years I've invested $20,000 and my holdings in that fund are worth $105,000. I am extremely pleased with my two other Price funds as well, so pleased in fact that I own shares in TROW and would recommend those shares to anyone short term or long. Make no mistake TRMAX is an investment vehicle not a trade. Periodic investment makes the most sense to me.
Its nice to get some kind of cash into Dubai and the vicinity. Politically, its the foolish paranoid politicians who want to keep them from operating in US ports, but the smart investor knows that they offer tremendous opportunities around the world.
Nice postings on this board. I just found out about this fund from a very good article on it in the financial times. Curious to know how others found out about it?
Seems to be a long term play. There were several funds on Africa in the 90's that went no where and went under, but this one seems better and different with the inclusion of the middle east. Africa seems to have changed for the better a bit since the 90's too.
I am considering buying this tommorrow with my broker at Merrill Lynch, any suggestions before I do so? It would be for my IRA. I believe it is no load and there are no other class of stock shares?
Most of my investments are with T. Rowe Price, where my funds' returns have been in the 40-60% range.
I jumped into TRAMX the month it opened. I LOVE T. ROWE PRICE: their performance is great, the fees are low, and they balance risk quite well.