Austrian manager adds sterling share classes to EM equity funds

Austrian fund manager Raiffeisen Capital Management has introduced sterling share classes on three of its emerging market equity funds.

The Raiffeisen Eastern European Equities, Emerging Markets Equities and Russia Equities funds are now available in sterling as well as US dollars. The group said the move is in response to demand from UK investors to buy shares in their own currency. It comes at a time when many global fund managers are beginning to offer their funds in various denominations to offer investors protection against currency volatility. Groups including Legg Mason have launched sterling share classes on a number of their funds this year to counter challenges such as yen weakness.