Make no mistake; there is a lot of money to be made in developed Asia. However the really smart money has long since moved on from picking over Chinese steel stocks or Indian IT companies.

When your average investor in Australia can get exposure through a fund to these sectors, then a market has ceased to be undiscovered and the ability to identify mispriced investment opportunities has rapidly decreased.

You can’t get a booking at the Hyatt in Shanghai nowadays because of all the fund managers, analysts, speculators and bankers staying there ahead of a round of company meetings.

Despite the shudders and misapprehension from many, Africa is rapidly hitting the radar screens of the world’s smartest investors.