Milltrust International and Tower Capital are pleased to announce the imminent launch of the Tower GEM UCITS Fund and the Tower Africa UCITS Fund as the newest additions to Milltrust’s Emerging Markets Managed Account PLC UCITS Platform.

For this occasion, prospective investors are invited to a lunch presentation at 12:00pm on the 3rd of June in London (West End) with Richard B?ttger and James Faircliff, who will discuss the investment strategies and current outlook for the Global Emerging Markets and African Markets

If you are interested in attending the lunch presentation, please contact us


Tower Capital Management (Pty) Ltd (?TCM?) was founded in March 2009 by Richard B?ttger and James Faircliff who are 50/50 owners of the business. There are no external shareholders.

TCM launched the flagship South African fund Tower Fund (ZAR) in August 2009. In July 2012 the Cayman Master-feeder structure was funded. TCM has its head office in Sandton, Johannesburg, where all portfolio management activities take place.

There are currently nine permanent staff members: Richard B?ttger and James Faircliff (Directors and co-PMs), Hubert Steenkamp (PM) David Farelo and Andreas Procopos (micro analysts) and Geoff Crowe (macro analyst). Guy Moretti (CFO) assumes the all financial and treasury duties. Philippa Owen (Director, COO) is responsible for all operational and compliance activities at TCM and Andrew Ludwig is responsible for client servicing, marketing and Investor relations.


The Tower GEM UCITS Fund and Tower Africa UCITS Fund are long/short equity funds, with a focus on liquid exposure to Global Emerging Markets and Sub Saharan Africa (?SSA?) growth, respectively.

The PMs have private equity backgrounds and their investment approach stems from this experience and their deep knowledge of the South African market for both public and private equity.

Research is bottom up in nature and can be thematic and over time has involved considerable exposure (long and short) to the emerging consumer theme. Since 2009, with significant research effort dedicated to looking at EM comparable companies while researching ideas for the Tower funds, it became clear that the rise of the local consumer in the emerging world is a multi-decade event and that this investment theme can be rolled out to the greater GEM market.


Milltrust International Group is a global asset management business focusing exclusively on providing Emerging Markets investors with access to the best regional assets managers via a single safe, transparent and liquid custodial platform.

Milltrust has developed a regulated, single-custody multi-manager, managed accounts platform in partnership with State Street Bank, on which it has launched a suite of actively-managed UCITS IV equity funds from across the Emerging Markets, managed by some of the leading locally-based investment managers in these regions. Using these building blocks clients can also assemble a customised Global Emerging Markets portfolio without the need for an over-arching fund of funds structure or any additional fees.

Milltrust?s Investment Solutions team provides investors with an optimal portfolio for their Emerging Markets exposures across these funds, enabling them to outsource the asset allocation, portfolio rebalancing and fund selection.