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Equities investment process
Ashmore’s equity strategies share a common philosophy and approach. Both are driven by and implemented by the globally integrated Equity team which is organised in a flat structure. Communication is formalised around weekly Global Macro, Equity and Strategy specific Investment Committees and dialogue is enhanced by ongoing interaction among Ashmore’s Equity, Debt and Alternatives teams.
We believe that Emerging and Frontier Markets are inefficient and provide strong potential for significant alpha generation through high conviction active management. We also believe that strong portfolio performance can only be sustained by ensuring portfolios have the ability to be actively managed. Consequently, liquidity assessment and a conservative approach to capacity management are integral to both portfolio performance and risk management.
We believe investment universes should be unconstrained by indices since relying on indices can be inherently restrictive. Indices can limit the opportunity set based on subjective criteria. In the case of market capitalised indices, it can also magnify the importance of challenged or government interfered areas of an economy at the expense of the strong underlying growth drivers.
Finally, we believe alpha can be generated from multiple sources. Emerging and Frontier Markets represent a diverse and broad range of economies and markets each at a different stage of development and facing diverse structural challenges. Significant and sustained portfolio returns can be generated by a combination of both fundamental top down and bottom up decision making.
Ashmore currently offers this theme on a segregated account basis and via investment in commingled funds (Luxembourg SICAV and US mutual funds).
Read more about our Equity strategies.
Please note that there is no guarantee that Funds managed under this theme/approach will achieve its objectives or that the strategy (risk management or otherwise) will be successful.