The fund is registered with the U.S. Securities and Exchange Commission (SEC) under the “1940 Act” and invests in small-cap companies in Emerging Market countries globally.
Ashmore also announced that it has broadened access to its U.S. mutual funds to a wider range of investors through the introduction of retail share classes (A and C) which complement the previously launched institutional share classes.
The Ashmore Emerging Markets Small Cap Equity Fund offers long-term capital appreciation through investments in equity and equity-related securities of small capitalization companies traded in Emerging Markets securities markets. Securities selected will consist primarily of companies with a market capitalization of up to US$2 billion at the time of investment.
According to the announcement, all Ashmore funds invest exclusively in Emerging Markets. The Emerging Markets debt strategies offer funds that include Total Return; Sovereign Debt; Local Currency Bond; Local Currency; and Corporate Debt. On the Equity side, the launch of the Ashmore Emerging Markets Small Cap Equity Fund compliments the existing Ashmore Emerging Market Equity Fund which focuses on larger-cap names.
Ashmore recently appointed Ted Smith as Head of U.S. Intermediary Distribution, reporting directly to Christoph Hofmann, Ashmore’s Global Head of Distribution. Smith is based in Ashmore’s New York office and is responsible for establishing key relationships with financial intermediaries and for building a team to service financial advisers. He brings well over a decade of experience in partnering with U.S. intermediaries and has experienced the Emerging Markets first-hand, having lived and worked in Russia for four years.Ashmore plans to offer its funds through selected intermediaries, including broker/dealers, registered investment advisers (RIAs), banks, insurance companies, and retirement platforms.