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Neptune Investment Management has begun marketing the Emerging Markets fund it launched in September owing to investor interest.
Traditionally, Neptune allows a fund to build up a one-year track record before widely launching. However, owing to performance and returning investor appetite for emerging markets, the group has begun marketing the vehicle, albeit initially in a low-key way, says the fund manager, Ewan Thompson.
The fund is top in the Global Emerging Markets sector and has returned 19.5% since its launch, compared with the MSCI Emerging Markets index return of 5.5%, according to the group.
Thompson runs the fund using between 40-50 stocks selected using the group's in-house research. He says the launch, in September 2008, was timely as it enabled the fund to capture valuations at the bottom of the market.
"There was an aggressive sell off in emerging markets, which had already fallen 40% from their peak at launch. We thought we were seeing reasonable valuations then, after the collapse of Lehmans, the markets fell another 40%."
Thompson began ...