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Ashmore adds sterling class to emerging funds

Ashmore Investment Management has launched sterling share classes for two existing emerging market Luxembourg-domiciled Sicav funds.

Both the Ashmore Emerging Market Debt fund and the Ashmore Local Currency fund are daily dealing emerging market debt sub-funds.

The Ashmore Emerging Market Debt fund invests primarily in dollar denominated debt, and the Local Currency fund holds local currency debt. They now have institutional and retail sterling share classes, as well as in dollars and euros.

In a statement issued today, Ashmore says the new sterling share classes were created in response to growing British client demand. Emerging debt and currencies offer value not seen for a decade, and provide a more balanced risk/return trade-off than equities at this point, the statement says.

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