The UK-based investment manager JM Finn has launched an African fund which aims to capitalise on the continent’s transition from a commodities supplier to a global consumer.

The fund will be managed by Anthony Eaton, who has a five-year track record managing the JM Finn Global Opportunities Fund. It will invest in large-cap businesses operating in sectors such as commodities and agriculture, along with the more highly-populated African countries in order to benefit from rising consumer demand.

“Our strategy, to invest not only in the major suppliers of… highly sought-after raw materials but also companies that benefit from the associated growth of a middle class, allows investors to participate in the most exciting elements of this historical growth opportunity,” said Eaton.

The new fund adds to JM Finn’s stable which so far includes the UK Portfolio Fund, the Global Opportunities Fund and the UK Smaller Companies Fund.

Africa has been attracting a lot of attention from wealth managers and banks lately, as trends such as rising demand in Asia boost commodity exporting countries. Also, the continent has a fast-growing and young population – a factor contributing to long-term growth.

Barclays recently said the continent was at the centre of its growth strategy, while Standard Chartered in November hired Margot Sutton, an expert on serving HNW African investors, and Société Générale has publicly said it aims to expand its presence in the North African market.