Thames River fund weathers turbulence in GEM equities
The Thames River Global Emerging Markets Fund was ranked either top quartile or top decile for every time period monitored by S&P since launch in April 2003.
Year-to-date the USD 500 million fund, rated AA by S&P, was ranked 4th out of 144 funds, over 1 year, sixth out of 139 funds, over 2 years thirteenth out of 128 funds and over 3 years ninth out of 116 funds. Investors at launch (on 4 April 2003) would have enjoyed a return of 205.8% versus 192.27% for the MSCI EM (Emerging Markets) Total Return Index and 177.73% from the sector average. Over 1 year the Fund returned 42.17% versus 35.5% for the benchmark index and 32.52% from the sector average. (USD share class, NAV to NAV).
Katie Blacklock, Fund Manager commented: "The recent sharp sell off in global markets hit GEM equities particularly hard. However, our Fund weathered the turbulence well, outperforming on the way down as it had on the way up. More importantly, we believe the recent recovery in our markets shows that whilst fluctuations in global risk appetite may continue to result in volatility over the short term, it does not threaten to provoke the kind of crisis within the asset class seen during similar cycles in the 1990s.'
'Instead, the structural changes seen across the majority of our economies have all but eliminated emerging markets' traditional reliance on external financing, turning the knee jerk and indiscriminate sell-offs such as those seen in May and June into excellent buying opportunities."
Ed Morse, Director of Sales, said: 'Thames River Capital has built one of the strongest emerging markets teams in London. With a team of 18 emerging market equities investment professionals, Thames River Capital has made a significant long term commitment to a sector that we believe will continue to show superior long term growth as a result of both the major structural changes that have taken place over recent years and the strong fundamentals underpinning the majority of major emerging markets'.
'We believe that the consistent out-performance that Thames River Global Emerging Markets Fund has demonstrated is a result of the team's disciplined, proprietary research driven investment process, coupled with the experience and investment management skills of the investment team.'
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