JPMorgan Asset Management India Private Ltd today announced the launch of the 'Emerging Europe, Middle East and Africa Equity Off-shore fund' (EEMEA).
It is an open-ended fund and will be open for subscription on October 18 and close on October 29, said a news release from the company. The performance of the fund will be benchmarked against the MSCI EMEA (Total Return Net).
It is an equity fund which will invest in a diversified portfolio of companies incorporated in central, eastern and southern Europe, West Asia or Africa, or have offices in these regions.
The EEMEA region includes over 10 countries, from South Africa to Russia.
"Apart from the wealth of natural resources that this region represents, EEMEA is a strong consumption play which is under appreciated by the market. A high-beta Russia and a defensive South Africa make EEMEA a well diversified universe.
This broad remit means that the fund can take advantage of portfolio diversification, thereby enhancing risk-adjusted returns and give investors exposure to a wide range of exciting long-term investment opportunities in these constantly evolving emerging markets," said Ms Sonal Pandit, Portfolio Manager, Emerging Europe, Middle East and Africa Team of Emerging Market Equities.
Source: http://www.thehindubusinessline.com/2010/10/20/stories/2010102052071300.htm
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