Ashmore targets Turkey and Brazil with dedicated funds

Ashmore Investment Management Limited has announced that its Turkish Debt Fund and Brasil Equity Fund have been registered as SICAVs.

The funds will now be available to institutional and retail investors.

Ashmore’s Turkish Debt Fund targets total return through active management of a diversified portfolio of Turkish debt and other instruments. The fund invests primarily in Turkish local currency sovereign bonds, supplemented by corporate debt.

The Brasil Equity Fund is an actively managed long only fund investing in Brazilian equities and equity-linked instruments.  It aims to outperform the MSCI Brazil index by adopting an active management style that combines dynamic allocation via bottom-up stock picking approach, which is complemented by Ashmore Group’s top-down views.  Allocation is focused on liquid stocks although less liquid names may be added to the portfolio where the investment case is compelling.

Turkey’s attractive public debt to GDP ratio compares well to the fundamentals of the Heavily Indebted Developed Countries.  Furthermore, developing corporate bond markets offer opportunities for yield enhancement. 

Brazil’s ongoing infrastructure investment plan, together with strong domestic consumption driven by the secular growth of the middle class offers attractive opportunities.

Both funds will continue to provide long term capital growth and remain available to institutional investors.

Commenting on the announcement, Christoph Hofmann, Ashmore’s Global Head of Distribution said: “Ashmore has a 20 year track record of investing in Emerging Markets. The Turkish Debt Fund and Brasil Equity Fund were previously available in other jurisdictions. Our decision to redomicile these funds to our Luxembourg SICAV is part of our ongoing strategy to make our funds available through easily accessible vehicles. There are exciting investment opportunities in Turkey and Brazil and the SICAV funds bring our expertise in EM to a broader audience.”

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