Merrill Lynch is launching two additional technology themed funds in its $15bn Luxembourg Sicav, the...
Merrill Lynch is launching two additional technology themed funds in its $15bn Luxembourg Sicav, the Mercury Selected Trust.
The MST Emerging Markets TeleTech Fund and the MST Digital Europe Fund take the range, run by Mercury Asset Management Channel Islands, to 39 funds.
The dollar-denominated Emerging Markets TeleTech Fund will be run by Ali Khalpey and Plamen Monovski who are both members of Merrills' emerging markets team responsible for $2.5bn.
The fund will invest in telecoms and technology stocks in global emerging markets where Merrills believes there remains massive growth potential. A continuing theme Khalpey and Monovski have identified as the focus for the fund is mobile telephony uptake in countries like China where only 3.9% of the 1.3 billion population have a mobile phone.
The Digital Europe Fund will be managed by Gariesh Sharma of the Merrills' European specialist team, which concentrates on investing in emerging companies. Sharma will invest in organisations using technology and new business models and will focus on the themes of outsourcing, communications and deregulation to construct its investment universe.
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till