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In an African first, Altvest will be listed on the Cape Town Stock Exchange (CTSE) on May 5.
As one of Africa’s most disruptive fintech companies, this listing marks a new chapter in their meteoric rise. Altvest disrupts traditional private equity by democratizing access to exclusive alternative assets through timeshare.
Based in South Africa – the inequality capital of the world – the platform aims to unearth tightly held assets and make them accessible. The opportunity set includes fintech, renewable energy, luxury asset funds, private reserves, offshore ownership and popular sports franchises.
Retail investors will have access to several previously private assets for as little as R100. Trades are executed on CTSE’s intuitive and powerful trading platform, A-Trade.
As Altvest co-founder and chief executive, Warren Wheatley, puts it, “South African retail investors will be exposed to investment categories usually reserved for the top 1% of society. These include prestigious wine farms, ultra-luxury lodges, high-end artworks and other alternative assets. These will be available in a fully regulated environment and in affordable increments”
Alternative investments have found favor lately amid rising interest rates, rising inflation, shrinking stimulus and high volatility in traditional equities. Many asset subclasses among the alternatives have proven resilient, outperforming benchmarks over time. Alternative assets are expected to represent almost a quarter of all investable assets by 2025.
The retail investor landscape exploded during the lockdown and ushered in a new wave of passionate amateur stock analysts, vibrant financial communities and unleashed a social media juggernaut. Altvest intends to offer retail investors a universe of opportunities that goes well beyond traditional vanilla stocks.
The company’s executive chairman, Koshiek Karan, adds, “We live in the most unequal society on the planet. Layer on top of an incompetent government, mass unemployment and a stifling cost of living – we are the textbook case of a failing economy. The only way to expect someone to reasonably care about the economy is to own a piece of it. The democratization of private capital is more than the epitome of financial engineering, it is real-world economic reform. The great transfer of wealth is overdue.”
Details of the highly anticipated first announcement to go live on Altvest will be released following the announcement.
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