Emerging market specialist Somerset Capital Management has launched an ex-tobacco fund focused on the region in response to client demand.
The launch of the asset manager's Global Emerging Markets (ex-Tobacco) offering, run by Edward Robertson, follows demand from investors "looking to pursue an ethically screened investment strategy".
The vehicle, which is the firm's fourth Ucits fund, uses the same investment strategy as the Somerset Global Emerging markets product.
The new fund carries an ongoing charges figure of around 98 basis points and is benchmarked against the MSCI Emerging Markets index.
Oliver Crawley, partner at the firm, said: "We have an extremely strong track record of investing in emerging markets and we want to extend our expertise to investors who are looking to gain exposure in these markets while adhering to their investment ethos."
