The move is aimed at increasing Ashmore’s investor base via wholesale distributors and increases Ashmore’s range of SICAV sub-funds from four to 12.
The new funds have both institutional and retail classes and will build on Ashmore’s key themes including sovereign dollar denominated debt, short dated local currency debt (money markets), local currency bonds, equities, emerging market corporate debt, and the sub-themes available within them (investment grade and non-investment grade, pure and blended strategies) plus multi-strategy funds where Ashmore allocates assets across the emerging market spectrum.
The funds are available in six share classes: dollar, sterling, euro, Danish, Norwegian and Swedish krona. There is a minimum initial investment for retail investors of 25,000 of each of the six currency classes. Management fees will depend on the size of the investment.
Jerome Booth, head of research at Ashmore, said with heightened risk in the de-leveraging developed world emerging markets are increasingly seen as relatively safe especially in the worst case global scenarios. “Emerging markets represent 50% of global GDP using purchasing power parity and the majority of investors are seriously under-weight.”
