The ICVC fund is available to investors in the UK and Europe, but First State intends to launch an offshore version of the fund soon.
Its objective is to achieve a combination of income and capital appreciation and it will invest predominantly in hard currency debt securities issued or guaranteed by governments, financial institutions or companies in EM.
The broadly invested portfolio will have between 50 and 120 holdings, mainly in US dollar-denominated debt and it will aim to outperform its benchmark, the JPMorgan EMBI Global Diversified Index, on a risk-adjusted basis.
Helene Williamson moved to First State in September from her position as F&C’s head of emerging market debt, which she held for 15 years.
Earlier this month First State expanded the debt team with three new hires and since its focus is supposed to be on local currency debt markets too, there will likely be more product launches soon.
