Citywire - For Professional Investors

Register to get unlimited access to all of Citywire’s fund manager database. Registration is free and only takes a minute.

EM experts Ashmore land in Brazil with triple feeder fund launch

EM experts Ashmore land in Brazil with triple feeder fund launch

Brazil’s XP Investimentos has inked a fund deal with Ashmore Group, launching feeder funds of a number of the UK manager’s emerging markets equity and credit strategies.

The firms announced last week that XP had launched three feeder funds of Ashmore Ucits strategies for local qualified Brazilian institutional investors.

The feeder funds are:

- the Ashmore Emerging Markets Debt Advisory FIC FIM IE CP (BRL Hedged);

- the Ashmore Emerging Markets Equity Dólar Advisory FIC FIA IE (unhedged-US);

- and and the Ashmore Emerging Markets Equity Advisory FIC FIA IE (BRL Hedged) funds.

‘Emerging markets will continue to be the dominant drivers of global economic growth with highly attractive returns, particularly when set against the backdrop of persistently low interest rates in the developed world,’ the press release said.

The deal with Ashmore is one of many fund agreements XP has signed this year and bolsters its lineup of international products in an environment where a growing appetite for diversified strategies in Brazil has seen an rise of international asset managers entering the country.

Most recently, XP inked a deal with Neuberger Berman at the end of August to distribute its Multi-Cap Opportunities fund, approximately a week after having signed another feeder agreement with Chile-based Moneda Asset Management.

XP announced earlier this year in May that it was looking to sign 10 fund-based agreements during 2020. The partnership with Ashmore is its sixth so far this year.

Ashmore Group is a specialist emerging markets investment manager based in London that had $83.6bn in assets under management as of the end of June.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.