Ashburton Investments has introduced a new sterling share class for its UCITS funds range.
The South Africa-based asset management business of the FirstRand Group has extended its offshore offering for UK investors, including the firm’s flagship Global Energy and India Equity Opportunities funds, as well as its Africa Equity Opportunities fund and India Fixed Income Opportunities fund.
The launch of the sterling share classes will be available alongside an existing US dollar range, and will also provide access to the funds across several platforms, Ashburton said. The funds are part of Ashburton Investments’ Luxembourg-domiciled SICAV range.
The US$40m Global Energy fund is managed by Ashburton’s Richard Robinson and marked its three-year anniversary on 1 May. Domiciled in Luxembourg, the fund invests across the energy universe, with a focus on managing the cyclicality of the oil price.
According to Morningstar statistics, it is ranked second out of 191 against its peers since launch, as at April 30.
The India Equity Opportunities fund has returned 64.3% since its launch in September 2012, outperforming its benchmark by 41.8% and as of 31 March was ranked in the top decile of its peer group, according Morningstar data provided by Ashburton.
The minimum investment into the newly created share classes is $US 100,000 (£69,255) for the institutional class and $US 10,000 (£6,925) for the retail share class.
Ashburton Investments has more than US$8.6bn under management, with offices in South Africa, the United Kingdom, Channel Islands and United Arab Emirates.