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Macquarie Wrap adds new emerging markets fund

Macquarie has added the PM Capital Emerging Asia Fund to its Macquarie Wrap menu, which will provide better access to Asian investment markets for advisers, according to PM Capital.

“Since inception in 2008, the fund has delivered a total return of more than 190 per cent, outstripping its benchmark by more than 170 per cent and achieving a 12 month return after fees of 42.2 per cent, as at 28 February 2014,” PM Capital said in a statement.

PM Capital’s head of distribution Rob Thompson said advisers want a managed funds menu that suits their diverse client base.

“We feel this product provides an addition to the Macquarie Wrap offering, which will help meet demand for Australian-domiciled investments that capture growth opportunities in global markets,” he said.

According to PM Capital the fund takes a different approach to investing in Asia, which is “largely dominated by quasi-index funds rather than fundamental bottom-up stock pickers”.

PM Capital’s portfolio manager of Emerging Asia Fund Kevin Bertoli said within the Asian region there is “genuine value” in industries that are supported by rising domestic consumption levels. 

“The evolution of over four billion consumers in the region creates an enormous investment opportunity,” he added.