WEST PALM BEACH, FL (HEDGECO.NET) – Emergent Asset Management Company is launching two new funds according to released company statements, the new funds, Emergent Diversified Emerging Markets MacroFund and the Emergent Global Fund would help �to streamline investment products for customers�, the statement emphasized. The new products domiciled in Bermuda require a US$100,000 minimuminvestment, the statement further said.
The two new portfolios would be managed by David Murrin, Michael Lambert and Fergus Murrison. Murrin is also the Chief Investment Officer and a principal of the company, while Fergus Murison formerly worked at Morgan Stanley and HSBC. Michael Lambert worked for AIOC Corporation in Russia and had background in metals trading.
Two of Emergent�s existing funds; the Emergent Alternative Debt and the Emergent Ballistic Fund were consolidated into the new Diversified Emerging Markets Macro Fund according to the statement. The Emergent Alternative Debt fund according to the firm gained 51% on the average per annum for the past five years, since the inception of the fund.
The Ballistic Fund was launched three years ago, and has gained an average of 30% since its inception, the statement further added. The Diversified portfolio is being seeded with US$15 million, and would be closed to new investors when investor assets reach US$250 million.
Susan Payne, the Chief Executive officer for Emergent Asset Management had this to say about the consolidation of the two funds , �Uncorrelated assets, when put together in one fund, will create lower volatility with higher returns� she added, �This is easier than having two funds; You get one fund with one return.�
The Emergent Global fund was also created from previous unlisted Emergent funds; the Global fund is being seeded with US$20 million. Unlike the Diversified Macro Fund, the Global Fund has no specific timetable when the fund would closed to new investors, it is anticipated that assets in the Global fund would grow to about US$500 million according to Payne.
Emergent Asset Management Company was formed in 1997, by former J.P.Morgan managers, and currently manages about US$80 million in investor assets.
Paul Oranika
Editor-in-Chief
Hedgeco.Net
Email: Editor@hedgeco.net
