fe Awards 2005 - European Boutique of the year

ASHMORE INVESTMENT MANAGEMENT Boutique of the year was a hotly contested category but the accolade goes to Ashmore Investment Management, an emerging market specialist. Ashmore focuses on four emerging market investment themes: dollar-denominated debt, local currency and local currency debt, special situations and equity.
It has adopted an active, value-driven and mainly top-down management style with a particular focus on the influence of local and international politics.
  Its investment approach implements the Ashmore Portfolio Framework, which separates investments into three distinct categories: yield, total return and special situations. This technique enables them to manage liquidity, duration and achieve diversification across 50 countries.
  Ashmore's flagship fund EMLIP has outperformed its benchmark since inception. Investments are spread over 35-45 countries and use over 90 instruments.
  Ashmore is based in London and was formed in 1992 as part of the Australia and New Zealand Banking Group with $18m in AUM. It became independent in 1999 and became majority owned by its employees. As of June 2005, it managed over $11bn in pooled funds, segregated accounts and structured products.
  Its clients include central banks, government and corporate pensions, institutions and high net worth individuals and 46% of its clients are based in Europe.
    The Shortlist
  • IT asset Management
    IT Asset Management believes that a commitment to the European market-place is not a matter of size, but rather of focus and consistency, backed up by excellent performance and sustained by a cross-border presence. It has achieved success over the last 12 months in selling its flagship IT Funds Technology Global across Europe, despite limited resources. Between October 2004 and September 2005 the flagship fund tripled in size from Ã?â?¬32m to Ã?â?¬92m, with most of the net inflows coming from Europe, ex-France.
  • Medical Strategy
    Medical Strategy is the quintessential boutique; a six-person team with expertise in a very focused area, providing investment management services based on a proprietary databank and a clearly defined investment process.
    As you might guess, the area of expertise is the healthcare sector, and within that, Medical Strategy focuses on small and mid-cap companies. They have Ã?â?¬185m under management and their flagship fund has consistently outperformed its benchmark indices since inception.
  • Signet capital management
    Signet has a unique risk management process, which avoids main hedge fund risks, i.e. Ã?â??fat tailÃ?â? risks arising from operational and manager-specific risks or unintended and unexpected portfolio and market risks. It also implements an active strategy allocation, which it uses to select hedge fund strategies most likely to out-perform in the current economic and market environments. It invests in established as well as less well known hedge fund managers with specialised niche strategies.

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