UK - Ashmore Investment Management has announced the launch of its second Global Special Situations Investment Fund aimed predominantly at the institutional market place.
The new fund has a five-year lock in period and is designed to invest in “special situations” globally in emerging markets, Ashmore said.
“Ashmore’s special situations strategy seeks to make large investments in distressed assets or other situations with significant upside where Ashmore can use its financial restructuring skills,” said Mark Coombs, managing director.
“A typical investment might be a company with strong operating cashflow which has been hit by an external shock such as a countrywide or sector specific downgrade. This type of fund is particularly useful for investors who want high return but are also seeking very strong diversification from any other asset classes.”
The new closed-end fund follows the launch of Ashmore’s first special situations fund in June 2003. The fund delivered a gross return of 44% for 2004, and is up over 110% since inception.
PTL has appointed Karein Davie as a client director in its Birmingham office.
The level of interest rate hedging increased to £29.5bn of liabilities in the second quarter as pension funds continued to de-risk, according to BMO Global Asset Management's research.
UK inflation has risen for the first time since November to 2.5% in July, up from 2.4% in June, thanks to rising fuel costs and the price of computer games.
The number of DB pension scheme trustees targeting a buyout with an insurer has increased significantly in the past five years, latest research from Willis Towers Watson shows.