ING Investment Management has unveiled a new hard currency bond fund focused on the frontier markets.
The new Frontier Markets Debt Hard Currency fund will be managed by Marco Ruijer, who joined the Dutch company in April from Mn.
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The fund, which has US$100 million seed capital, will be benchmarked against the JPM Next Generation Markets (NEXGEM) index.
The fund, will an annual management fee of 1.2%, will focus on seeking significant yield advantage and gaining exposure to markets showing strong growth potential.
Additionally, the fund has a fixed service fee of 0.3% and a 3% subscription tax.
ING IM said the fund will be diversified to access opportunities in countries with less efficient capital markets.
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By GlobalDataJerry Brewin head of emerging market debt ING said: "This fund further strengthens the EMD boutique’s pioneering reputation as an experienced manager in this asset class. It offers clients the advantage of a broader strategy selection to implement their EMD views more specifically."
