Ashmore Investment Management Limited has added the Ashmore SICAV Emerging Markets Global Equity Fund and the Ashmore SICAV Emerging Markets Global Small-Cap Equity Fund to its existing offering of SICAV fixed income funds.
These two new SICAV funds bring the total of equity-focused Ashmore SICAV funds to three and complement the existing Ashmore SICAV Emerging Markets Fixed Income range of 13 funds, with a total of USD6.4bn of assets under management across all SICAVs.
All Ashmore funds focus exclusively on Emerging Markets. The Emerging Markets fixed income strategies include External Debt, Local Currency, Local Currency Bond as well as Corporate Debt, Blended Debt (“Total Return”) and Multi Strategy Investing.
The Ashmore SICAV Emerging Markets Global Equity fund will invest in equities issued by corporates and quasi-sovereigns whereas the Ashmore SICAV Emerging Markets Global Small-Cap Equity fund will invest in equities issued by small-cap corporates with a market cap of up to USUSD2 billion and quasi-sovereigns. The funds will be managed by AshmoreEMM, a member of the Ashmore Group and one of the world’s premier managers of Emerging Markets equity strategies.
All the Ashmore SICAV funds will be available to discretionary and advisory distributors as well as institutional investors globally and in share class denominations including US dollar, euro, UK sterling, Danish krone, Norwegian krone, Swedish krone, Swiss franc and Japanese yen. Most of the sub-funds are registered for public distribution across key European jurisdictions including the United Kingdom.
Approximately 87% of Ashmore’s assets under management are from institutional investors from across the globe, including central banks, sovereign wealth funds, public and corporate pensions and insurance companies. As part of the ongoing effort to complement the firm’s predominantly institutional business, Ashmore recently appointed Dominick Peasley as Head of European Third Party Distribution.
Reporting directly to Christoph Hofmann, Ashmore’s Global Head of Distribution, Dominick Peasley is based at Ashmore’s London office and responsible for establishing key relationships with retail and wholesale distributors. Peasley joins Ashmore from Goldman Sachs Asset Management where he was an Executive Director, heading UK Third Party Distribution. Specialised in capital-raising, he has over 10 years of experience in asset management.
Hofmann says: "Ashmore has successfully built a global institutional brand with a reputation for expertise in investing in Emerging Market debt. Through its recent acquisition of AshmoreEMM, Ashmore is now delighted to offer a wider range of Emerging Market equity investment products to European investors at a time when they are actively seeking to diversify their portfolios, away from Developed Markets and European currencies. Ashmore plans to offer the funds through selected intermediaries including private banks and fund of funds.”
“The Ashmore SICAV Emerging Markets Equities and Small-Cap Funds offer investors prime access to domestic growth stories – from China to frontier markets,” says Felicia Morrow, CEO of AshmoreEMM. “In Emerging Markets, for example, small cap securities have out-performed large caps in 8 of the past 10 years.”
Jerome Booth (pictured), Ashmore’s Head of Research, says: “There is growing realisation among investors that the disparity between Emerging Markets and Developed Country Markets has not only narrowed, but has in some cases turned upside-down. Our funds will allow a broad range of investors to have the potential to benefit from this investment opportunity: they can not only add returns, but potentially also reduce risk, especially in the worst developed world scenarios.”