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Alternative Market Briefing

Gramercy launches corporate and high yield emerging markets UCITS funds

Wednesday, September 18, 2013

Bailey McCann, Opalesque New York:

Connecticut-based Gramercy Funds Management, has launched two new UCITS funds, based on existing emerging markets corporate debt and emerging markets high yield strategies. The funds - Gramercy Corporate Emerging Market Debt launched with $25m and Gramercy High Yield Corporate Emerging Market Debt launched with $50m, both were seeded by prominent European investors. Gramercy itself has $3.7bn in assets, with a core focus on emerging markets.

Specifically, Gramercy Investment Funds PLC, an Irish-domiciled company, initially established the Gramercy Corporate Emerging Market Debt Fund and the Gramercy High Yield Corporate Emerging Market Debt Fund. Both sub-funds will invest in diversified portfolios predominately composed of fixed-income securities issued by corporate entities located in emerging markets. The funds will look to continue the three-year record of success of their hedge fund counterparts.

Gunter Heiland and Jeff Grills, Managing Directors and Co-Heads of the Emerging Markets Debt Group at Gramercy, will manage the funds.

Gramercy believes the opportunity set for investing in EMD is strong. EMD has generated high returns relative to other global opportunities while providing diversification benefits to portfolios. Yields are greater than many advanced economies, while emerging markets fundamentals are improving. Heiland ......................

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