The new Sicav will be managed by Dean Newman who has managed equities for over 24 years and is also the firm’s head of emerging markets. It will aim to achieve long term capital growth through investing in shares of Latin American companies and is expected to have a similar asset allocation to the Invesco Perpetual Latin American Fund.
Nick Tolchard, managing director of international development division and head of Invesco Middle East said: “Emerging markets is an important and growing area for us and the launch of this fund is part of a long-term initiative, aimed at offering offshore investors increased access to Invesco’s established emerging market expertise.”
Tolchard added the company’s research had found 82% of offshore investors, particularly those in the Middle East, intend to increase their exposure to emerging markets over the next three to five years.
Newman said Latin America’s economic growth is likely to be significantly stronger than in the developed world this year and next, with both corporate and household balance sheets stronger and more robust than in Europe and the UK.
The fund will be available in euro and dollar share classes with minimum investments of $1,500 and €500, while the base currency will be the US dollar.
