Ashmore Investment Management Limited
has rolled out five mutual funds for U.S. investors and will be hiring wholesalers to pitch the products.
Ashmore's Jerome Booth and Mark Weiller at Thursday's press conference
photo courtesy of Intermarket
The funds are initially available only in institutional share classes. The London-headquartered emerging markets specialist plans to launch A and C shares next year, company officials said in a press briefing at Omni Berkshire Place in midtown Manhattan this morning.
Ashmore executives at the event included head of research Jerome Booth
, who is based in London, and U.S.-based executives Mark Weiller
and Chris Tsutsui
Weiller is head of product and client management at Ashmore's New York-based b-d, Ashmore Investment Management (US) Corp.
, and Tsutsui serves as chief financial officer. There are currently six people in Ashmore's New York office, led by CEO George Grunebaum
Around a dozen reporters attended the event, which
was organized by PR firm Intermarket
In an interview, Weiller said Ashmore will be hiring wholesalers to pitch the mutual funds. It has yet to be determined how many wholesalers it will have.
"The intention is to establish a sales and support function for the retail market," he said.
Weiller also said a "large 401(k) plan," which he did not identify, has started to offer the Ashmore Emerging Markets Currency Bond Fund
as an investment option.
Ashmore's four other mutual funds are:
Ashmore Emerging Markets Corporte Debt Fund
Ashmore Emerging Markets Local Currency Fund
Ashmore Emerging Markets Sovereign Debt Fund
Ashmore Emerging Markets Total Return Fund
provices transfer agency, fund administration, fund accounting
and custody services.
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