Nick Ndiritu

Nick Ndiritu

Nick is a portfolio manager for the Allan Gray Africa ex-SA Equity Fund and Africa ex-SA Bond Fund. He joined Allan Gray in 2010, with experience in investment banking and management consulting. Nick holds a Bachelor of Science degree in Industrial Engineering (magna cum laude) from Northeastern University and a Master of Business Administration from Harvard Business School.

Articles by Nick Ndiritu

Broadened horizons, local learnings

By Nick Ndiritu and Leonard Krüger on 22 Oct 2019

Leonard Krüger and Nick Ndiritu look at how we have tailored our investment philosophy and process to invest in Frontier Africa markets. They discuss lessons...

Guarded optimism on new Zimbabwe dollar

By Nick Ndiritu on 03 Jul 2019

This past quarter, Zimbabwe reintroduced its national currency, reviving bitter memories of the hyperinflation period before the infamous Zimbabwe dollar was...

Finding value in frontier African markets

By Nick Ndiritu on 29 Apr 2019

Across corporate boardrooms in South Africa, a number of management teams and institutional investors are grappling with a vexing question: Is investing in...

Riding out volatility in African equity markets

By Nick Ndiritu on 04 Feb 2019

Africa’s equity markets delivered disappointing returns in 2018. The MSCI Africa index was down -24%, while the MSCI Africa ex-SA index was down -13%. None o...

Zimbabwe in transition

By Nick Ndiritu on 06 Jul 2018

Zimbabwe’s election on 30 July 2018 heralds a new beginning after the abrupt end to President Robert Mugabe’s 37-year reign in November 2017. We are not...

Demystifying Africa’s debt markets

By Nick Ndiritu on 15 Feb 2018

Investors seeking diversification outside of South Africa can easily overlook the investment opportunities in other African markets. It is tempting to start ...

Value investing in Nigeria

By Nick Ndiritu on 16 Aug 2017

Active managers in Africa and frontier markets have to counter the perceived higher-risk of investing in volatile markets prone to political and economic...

Valuation of Nigerian and Zimbabwean holdings in the Allan Gray Africa ex-SA Equity Fund

By Nick Ndiritu on 12 May 2017

The Central Bank of Nigeria (CBN) has established a new foreign exchange (FX) platform for investors and exporters, effective 24 April 2017. The exchange...

Investing in Africa’s debt markets

By Nick Ndiritu on 30 Sep 2016

Patient capital dedicated to Africa’s capital markets is scarce, especially during economic or political downturns. Nick Ndiritu explains how long-term...

How to think about risk in Nigeria

By Nick Ndiritu on 11 Jul 2016

Our investment approach does not change even during periods of extreme market volatility. As always, we carefully consider investment opportunities where ris...

Investing in Africa defies a simple narrative

By Nick Ndiritu on 30 Sep 2015

Our Equity, Balanced and Stable Funds are allowed to invest up to 5% in Africa outside of South Africa. Some investors may choose to invest directly into...

The Allan Gray Africa Equity Fund celebrates 15 years

By Andrew Lapping and Nick Ndiritu on 30 Jun 2013

When the Allan Gray Africa Equity Fund (the Fund) was launched on 1 July 1998 it was the first unitised product in which Allan Gray Proprietary Limited was...

Africa's investable universe

By Nick Ndiritu on 31 Dec 2010

We expect a change in prudential investment regulations to allow pension fund investors to invest up to 5% of their assets in Africa, in addition to other...

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