Edinburgh-based boutique Aubrey Capital Management, which was founded in 2007 by a group of former First State managers, has launched a concentrated global emerging markets fund with an initial $50m of seed money.
The lead manager on the fund will be CIO Andrew Dalrymple (pictured), who ran the First State Global Opportunities fund from launch in 1999 until he left the group in June 2006, alongside co-managers John Ewart and Rob Brewis. UK retail investors could previously only access the strategy through a mandate for the OMGI Voyager Global Dynamic Equity fund. This mandate has returned 68.7% (gross of management fees and transaction costs) over three years from the 16 March 2012 to the end of March 2015, compared to a fall of 3.7% for the iShares MSCI Emerging Markets ETF. The new fund...
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