The new Smith & Williamson Emerging Markets Value Fund will invest in between 50 and 90 stocks in emerging or developing markets that have market capitalisations of at least $500m.
The fund will be managed by AGF’s Dublin-based Richard McGrath and will employ the group’s propriety value investment approach.
According to Smith & Williamson, the stock selection process requires that any stock making it into the fund has a current price least 30% below the high of the past 18 months; a P/E at least 30% lower than its relevant market index; and a dividend yield of at least 30% above its relevant market index.
In a release announcing the launch McGrath said: “Despite the short-term doubts about the emerging markets sector, we believe the long-term prospects remain attractive."
