Aberdeen launches EM small-cap trust for Kaloo

Aberdeen is preparing to launch the first UK-listed emerging markets smaller companies investment trust in June.

The Aberdeen Emerging Markets Smaller Companies Trust will be headed by Devan Kaloo and Mark Gordon-James. It will aim to provide long-term capital growth by investing in a diversified portfolio of listed emerging market smaller companies. The investment trust is aiming to raise £150 million through a placing with institutions and a public offer for private investors that will be available from early June. The fund will be benchmarked against the MSCI EM Smaller Companies Index but will also invest in off-index names. Devan Kaloo, head of global emerging markets at the company, ...