Chicago-based Thomas White International (TWI) is the latest overseas firm to enter the UK market, with the launch of a global emerging markets fund to try to benefit from capacity issues in the sector.
The fund replicates the emerging market sub-portfolio the firm’s global equity strategy, domiciled in Dublin, and launched in the UK in May.
Run by Thomas S. White Jr, the Thomas White Emerging Markets fund will focus on large emerging market companies across the globe, or businesses which have exposure to developing countries.
The fund is targeting between 3% and 5% outperformance of its benchmark gross of fees.
‘We are already in talks with around six investors, mostly from South Africa and the UK, and are hoping to raise £20 million to £25 million to get our fund off the ground,’ said Chris Neill, TWI’s director of institutional relationships.
This will mirror its $30.05 million US counterpart, which has returned 5.51% over three years compared to the MSCI Emerging Markets Index’ 3.38% rise.