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Cape Town-headquartered specialist fund administrator IDS Group has launched an internship programme, offering final-year students and new graduates the opportunity to gain work experience in a difficult job market.

Nexus Asset Management has taken the decision to close the Nexus Triton Fund as of the end of July, as it has not gained the scale required to justify fund costs.

Keatlaretse Mooki rejoined Novare Investments as an investment analyst at the start of August, having previously spent two years with the company.

Novare Equity Partners, a division of the Novare Group, is raising capital for the Grand Towers Africa Property Fund 1, a private equity fund that will invest in property across Sub-Saharan Africa with a focus on retail developments with reputable anchor tenants from South Africa or other international markets.

Paul Rozowsky and Derek Schwartz at Bacci Trading in Cape Town now have a four-year track record with their Bacci Applause Growth Fund, an actively traded long/short directional strategy focused on the South African markets that has delivered consistent, conservative returns.

HedgeNews Africa is delighted to announce that Peter Douglas, principal of GFIA, Asia's longest-established hedge fund consulting firm and a substantial wealth manager, will be delivering a keynote address at the HedgeNews Africa Symposium, scheduled for February 2011 in Cape Town.

Johannesburg based fixed income manager KADD Capital has reached capacity with its existing fixed income strategies, hard-closing its funds to investors with a combined R1 billion under management. The team also plans to launch a new fixed income strategy.

KwaZulu-Natal based alternative asset manager Orange Capital has merged into South Africa's Alpha group, cementing the group's position as a premium boutique financial services provider.

"It is our belief that Africa is at a tipping point and that in the not too distant future we will be talking about the strength of Africa as we do about the BRIC and Asian Tiger economies,"

The Zambezi Fund, a Zimbabwean portfolio advised by the Johannesburg-based Laurium Capital team in conjunction with global investment advisory firm Ambata Partners, has had a strong start.