Global EM equities investment trust eyes £100m IPO

Ashoka WhiteOak Emerging Markets trust

Ashoka WhiteOak Emerging Markets (AWEM), a new UK investment trust focused on global emerging market equities, is planning to raise £100m in an IPO.

The trust, which will invest in global emerging markets to achieve long-term capital appreciation, will look to list its initial 100 million shares in the main market of the London Stock Exchange.  Acorn Asset Management will be responsible for the discretionary management of the company's assets and act as its AIFM. The firm will appoint White Oak Capital Partners to act as the trust's investment adviser. White Oak, which also manages the £205m Ashoka India Equity trust, is led by CIO and founder, Prashant Khemka, who was previously CIO and lead PM of the Goldman Sachs Global Emergin...