Somerset Capital Management has further expanded beyond its UK-focused investor base with a new frontier fund as part of its Dublin-domiciled fund range.
The news comes after the group – which was founded by Conservative MP and leading Brexiter Jacob Rees-Mogg – announced plans to make its flagship fund accessible to European investors earlier this year.
The unveiling of the MI Somerset Frontier Markets fund marks the latest development on that front.
It is a highly concentrated equity fund which will be overseen by George Birch Reynardson. He will be supported by fellow fund manager Mark Asquith.
Commenting on the launch, Birch Reynardson said the frontier fund marks a natural extension of Somerset Capital Management’s original focus on underpenetrated and underresearched companies in emerging markets.
The company said the launch comes in the wake of increased client demand from both UK and European investors. It will be available in USD, GBP and EUR share classes.