Stanlib, the asset management, wealth management and unit trust business division of South Africa’s Standard Bank and Liberty Life is in the process of registering its new Africa corporate debt fund.

When launched, the fund would be largely channelled to Anglophone Africa markets, particularly Nigeria, Uganda, Ghana and Kenya. The fund is expected to grow up to $300 million in assets under management (AUM) in three years.

According to reports, the fund will be registered on the firm’s Jersey fund platform and is awaiting regulatory approval.

David Makoni, Stanlib’s head of Africa credit said the company is still in the fund raising stage.  “But we have had very good responses from the clients we have approached. As soon as the fund is registered it will immediately be available for launch” he added.

Makoni also said the best opportunities exist in Africa’s Anglophone markets. He stated that the fund is “opportunistic” and will invest in mezzanine as well as pure corporate debt, and would also consider more exotic locations such as Rwanda and Ethiopia.

Stanlib, one of South Africa’s top investment managers, will also manage segregated mandates in the Africa credit/debt strategy alongside the new corporate debt fund.

“Africa credit is not an asset class a lot of investors are au fait with, so it is a process of educating and getting buy-in. But as time goes on, the strategy is gaining more currency as a viable asset class that can offer attractive yields,” said Makoni.

Established in 2002, STANLIB as at 2010 had assets under management and administration totalling R330 billion rand ($41.2 billion).

Recently, the company won four awards at the Morningstar South Africa Fund Awards 2012, an award that recognises retail funds and fund groups that added the most value for investors within the context of their relevant peer group in 2011 and over the longer term.