The five funds will invest in local currencies, as well as sovereign and corporate emerging market debt, the investment manager said yesterday.
“There is growing demand among US investors for emerging markets exposure with a clear trend towards the need for daily liquidity and transparency,” Christoph Hofmann, Ashmore’s global head of distribution, said in a statement.
Ashmore’s funds are registered with the US Securities and Exchange Commission (SEC) and will initially be available through an institutional share class.
Next year, Ashmore plans to offer additional retail share classes, subject to further regulatory approvals, extending access to retail investors and high-net-worth individuals through private banks and broker-dealers.
The company wants to broaden its client base and to grow the high-net-worth and retail business in particular. Ashmore chief executive Mark Coombs said. “Our entry in to the broader US investment market furthers this goal,” he said.
The five funds to be offered in the US are the emerging markets corporate debt fund, the emerging markets local currency fund, the emerging markets local currency bond fund, the emerging markets sovereign debt fund and the emerging markets total return fund.