Emerging market specialist Ashmore Group has liquidated its dedicated developing world inflation-linked bond fund, according to our sister publication Citywire Global.
Data on Lipper IM shows the Ashmore SICAV Em Mkts Inflation linked Bond was formally closed on 28 June.
It was launched as a Luxembourg-domiciled vehicle on 21 June 2011 and had been overseen by Ashmore’s investment committee.
The fund had to have at least 80% of its assets invested in inflation-linked bonds from sovereigns, quasi-sovereigns or corporates issuing inflation-linked bonds in local currency.
The Ashmore SICAV Em Mkts Inflation Linked Bond fund had $36 million in assets at the time of closure on 20 June, according to Lipper IM data. The fund had $66.3 million in assets at its height, which was achieved in September 2013.
Ashmore declined to comment on the closure. However, it has been removed from the official list of funds on the group’s website.
The closure of the fund came shortly before Ashmore opted to add an emerging markets short duration strategy to its fund range. This was formally launched at the start of July.
The Ashmore SICAV Em Mkts Inflation Linked Bond fund had been registered for sale in Austria, Finland, Germany, Luxembourg, Singapore and Switzerland.
In US dollar terms, the Ashmore SICAV EM Mkts Inflation Linked Bond fund returned 2.25% from launch to the end of May 2014. This is while its benchmark, the Barclays EM Local Curr Govt-10% Country Cap TR GBP, rose 7.79%.