Castlestone to launch specialist frontier EM fund

Castlestone Management is looking to expand its range of equity mandates with the launch of a specialist frontier emerging markets fund, as well as a UCITS version of its Next 11 fund.

The group is planning to launch a fund investing in Columbia, Indonesia, Vietnam, Egypt, Turkey and South Africa, collectively known as CIVETS. The CIVETS fund will be run by Murray and analyst Dmitry Zhuk, and the duo are also taking over the Next 11 fund after the departure of manager Arrash Zarafi, who resigned two weeks ago. CIVETS is an acronym coined in 2009 by Robert Ward, global forecasting director at the Economist Intelligence Unit (EIU). The new portfolio will feature a number of holdings in the Next 11 fund, which also invests in Indonesia, Vietnam, Egypt and Turkey. ...