Two former fund managers from BlackRock and Liontrust have joined Ashmore to manage its £25m Emerging Markets Global Small-Cap Equity fund.
Dhiren Shah ran the BlackRock Emerging Market fund until June, when he left the firm, BlackRock confirmed.
The move followed a managers’ reshuffle at the fund management giant within its US equity divisions that started in March.
The BlackRock fund is now managed by Andrew Swan and Gordon Fraser.
Patrick Cadell, who was fund manager and partner at Liontrust for two years, joined the emerging market specialist manager in October, according to his LinkedIn profile.
A document uploaded to the Morningstar library, shows Shah and Cadell will manage the firm’s bottom-up Emerging Markets Global Small-Cap Equity fund from November.
The document says Shah will be the lead manager of the fund. The fund manager will also manage the Ashmore Emerging Markets Value fund, which has been renamed Emerging Market Equity fund, according to the file.
Ashmore declined to comment.