Somerset Capital launches ethical EM ex-tobacco fund

Responding to demand for ethical EM strategy

Somerset Capital Management has launched an ethical emerging markets equity fund screening out tobacco stocks, in response to client demand.

Somerset Capital Management has launched the Global Emerging Markets (ex-Tobacco) fund, to be run by the firm's co-founder Edward Robertson. The new offering, which was seeded by a £49.5m investment from a UK charity, will replicate the investment strategy of the existing Global Emerging Markets fund. Currencies, countries and sectors: Taking apart the emerging markets rally The fund will have a portfolio of 40-45 stocks employing a bottom-up research-based strategy with the aim of achieving a balance between growth and value. Benchmarked against the MSCI Emerging Markets index,...