Ashmore said it has also broadened access to its U.S. mutual funds for 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.
The company says that all its 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 complements the existing Ashmore Emerging Market Equity Fund that 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 the New York office and is responsible for establishing key relationships with financial intermediaries and for building a team to service financial advisers. He brings more than a decade of experience in working with U.S. intermediaries.Ashmore plans to offer its funds through selected intermediaries, including broker/dealers, registered investment advisers (RIAs), banks, insurance companies, and retirement platforms.