Ashmore broadens access to Sicav range for European investors

The Ashmore Group has introduced three new Sicavs to its Luxembourg Sicav range in order to give European investors easier access to a number of emerging markets.

The three new Sicavs that were added earlier in March to the company’s Luxembourg range, which launched for the first time in 2002 with the Ashmore Emerging Market Debt Fund (‘EMDF’), are:

• The Ashmore Sicav Latin American Equity Fund, which was launched in 1994 and will celebrate its 20th anniversary in November 2014. Fund size of some $55m
• The Ashmore Sicav Middle East Equity Fund, which will be ten years old in December 2014. Fund size of some $500m
• The Ashmore Sicav Indian Small Cap Equity Fund, which launches with of some $70m, strategy track record stretching back to July 2006

While they were already available to European investors on a more limited basis, the addition of the three funds to Ashmore’s Luxembourg platform aims at making access easier to European investors though their Ucits IV-compliant format.

The launch of the funds is a result of the merger of four Irish Sicavs into Ashmore’s Sicav range.

The fourth equity fund is Ashmore Emerging Markets Global Small Cap Equity Fund which will merge into Ashmore’s existing Luxembourg Emerging Markets Small Cap Fund, bringing its fund size to over $500m.

The new funds brings the number of Ashmore EM focused equity Sicav funds to ten.

Julie Dickson (pictured), portfolio manager, Equities at Ashmore said that the main reasons behind the move included an increasing demand of diversification from investors and of more flexibility in timing, which will be allowed by the daily-dealing Ucits IV format.

“Investors have become exceptionally discerning compared to five or six years ago and are looking to broaden and diversify their investments in emerging market equities.

“Moreover, the Sicav structure will give European investors more flexibility in terms of timing for their allocation process, as they will now be able to get in and out each fund on a daily basis,” Dickson said.

The funds will be available to a broad range of investors ranging from institutional investors, funds of funds, financial advisers to retail clients globally.

“Emerging markets will continue to evolve and we are keen to provide investors with as many opportunities as possible,” Dickson concluded.

 

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