Ashmore launches Turkish equity Sicav fund
Ashmore Investment Management has announced the launch of the Ashmore Sicav Turkish Equity Fund.
The fund is an open-ended vehicle investing predominantly in Turkish equity and equity related instruments issued by corporates and quasi-sovereigns. Ashmore’s globally managed funds have invested in in Turkish equities since 1987. Ashmore further strengthened its Turkish connections when it launched Ashmore Portföy, Turkey in 2008, one of Ashmore’s first domestic asset management ventures.
Didem Gordon, CEO of Ashmore Turkey said: “Ashmore’s new Turkish Equity Fund will provide global institutional and retail investors with the opportunity for long-term capital growth.
“Turkey’s fundamentals offer a very attractive investment proposition. Turkey has a young population, its economy is growing and fiscal performance is strong. Investing in Ashmore’s Turkish Equity Fund, which we will manage actively based on fundamental analysis and research, will provide investors with a well-diversified portfolio of Turkish equities.”
Ashmore’s global head of Distribution Christoph Hofmann said of the fund: “We are seeing significant investor interest from large allocators of capital who are looking to access key individual Emerging Markets economies through dedicated strategies. The launch of the Ashmore Turkish Equity Fund is therefore an important addition to our existing range of regional and single country funds.”
The Sicav Turkish Equity Fund is an open-ended daily dealing Ucits IV Luxembourg registered fund. The fund will be registered for sale in Austria, Germany, Luxembourg, Switzerland and the UK and is available in share class denominations in dollars, euros, sterling and other currencies.