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Mark Coombs, Chief Executive Officer of Ashmore Group plc

Ashmore to launch first funds to US market

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Ashmore Investment Management, an investment manager dedicated to emerging markets, has obtained regulatory approvals to offer five mutual funds to the US markets. 

The funds will invest in emerging market debt, including sovereign debt, local currencies and corporate debt.
 
Ashmore has sponsored a suite of emerging market debt funds that allows investors to participate in the investment opportunities of emerging market economies, which include potential for currency appreciation and higher yields, relative to their developed market counterparts. 
 
Ashmore’s funds will initially be available through an institutional share class. In 2011, and subject to regulatory approvals, Ashmore plans to offer additional retail share classes, which will be offered to investors through private banks and broker/dealers.

Mark Coombs, Ashmore’s chief executive, says: “Ashmore has a diversified investor base by type and geography. Approximately 87 per cent of Ashmore’s assets under management are made up of institutional investors including central banks, public and corporate pensions, and insurance companies. The company has the strategic goal to further broaden its client base, in particular to grow the high-net-worth and retail business by partnering with financial intermediaries like private banks, broker/dealers and other high net worth and retail distributors. Our entry in to the broader US investment market furthers this goal.”

The five funds are:
 
1. Ashmore Emerging Markets Corporate Debt Fund
2. Ashmore Emerging Markets Local Currency Fund
3. Ashmore Emerging Markets Local Currency Bond Fund
4. Ashmore Emerging Markets Sovereign Debt Fund
5. Ashmore Emerging Markets Total Return Fund

 

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