Ashmore Emerging Markets Income Fund plans launch

By Toni Weeks

San Diego, Dec. 4 - The Ashmore Emerging Markets Income Fund has registered to sell shares, according to an N-2 filing with the Securities and Exchange Commission.

The newly organized, non-diversified, closed-end management investment company seeks current income with capital appreciation as a secondary objective. It will invest principally in debt instruments of sovereign, quasi-sovereign and corporate issuers of emerging market countries. The debt instruments may be denominated in any currency and may be of any type. The fund normally seeks to maintain a weighted average portfolio duration of two to 10 years.

The portfolio management team has not been announced.

The new fund will trade on the New York Stock Exchange. The ticker symbol has not been set.

The fund registered to sell 40,000 shares at $25.00 apiece for proceeds of $1 million. The underwriters will have a greenshoe.

Shareholder fees have not yet been determined.

London-based Ashmore Investment Management Ltd. is the investment manager.

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