Ashmore bolsters emerging equity range
From Products Nov 3 2011 BY: Will Jackson
, Contributing editor
, International Adviser
Ashmore has expanded its Sicav equity range by launching Emerging Markets Global Equity and Emerging Markets Global Small-Cap Equity portfolios.
The funds are available to advisory and discretionary distributors, and are registered for sale in European jurisdictions including the UK.
The firm, an emerging markets specialist, now has three equity-focused products and 13 fixed income funds, with total assets under management of over $6bn. The new equity portfolios are run by AshmoreEMM – a US-based subsidiary acquired by Ashmore earlier this year.
Ashmore Sicav Emerging Markets Global Equity and Ashmore Sicav Emerging Markets Global Small-Cap Equity both invest in equities issued by companies and quasi-sovereigns.
The small cap fund focuses on stocks with market capitalisations of less than $2bn – a sector that outperformed emerging market large caps in eight of the past ten years, according to Felicia Morrow, the chief executive officer of AshmoreEMM.
All of Ashmore’s Sicav funds are available in a range of currency share classes, including: dollar, euro, Danish krone, Norwegian krone, sterling, Swedish krona, Swiss franc and yen.
Retail push
The launches coincide with a drive by the firm to diversify its investor base. About 87% of Ashmore’s assets under management come from institutional investors, including central banks, sovereign wealth funds, public and corporate pensions, and insurance companies.
Ashmore recently appointed Dominick Peasley as its head of European third party distribution. Peasley, who joined the company from Goldman Sachs Asset Management and is based in London, is responsible for establishing relationships with retail and wholesale distributors.