Ashmore Investment Management, a UK-based emerging markets fund manager, has launched SICAV Turkish Equity Fund.
The company said that the fund is an open-ended vehicle, which primarily invests predominantly in Turkish equity and equity related instruments issued by corporates and quasi-sovereigns.
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The SICAV Turkish Equity Fund will be registered for sale in Austria, Germany, Luxembourg, Switzerland and the UK and will be available in share class denominations in US Dollars, Euros, UK Sterling and other currencies.
Commenting on the launch, Ashmore Turkey CEO, Didem Gordon, 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," Gordon added.
Ashmore global head of distribution, Christoph Hofmann, said: "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."
