Somerset Capital Management has launched its first fund for British retail investors, a Global Emerging Markets Oeic. It is run by a team led by Jacob Rees-Mogg and Edward Robertson, ex founders of Lloyd George Management.
Rees-Mogg and Robertson established the global emerging markets desk at Lloyd George before setting up Somerset in 2007.
The Global Emerging Markets fund is a concentrated 40-stock portfolio with a value investment style unconstrained by its benchmark.
It aims to achieve an absolute return through holdings in countries including Egypt and Taiwan. Its largest regional weighting is in China where it has 14%.