The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Emerging markets: Focus launches emerging markets FoHF

Focus Capital, a specialist emerging markets absolute return manager, has launched a fund of funds that invests across multiple asset classes.

The Emerging World Fund invests through other funds in emerging market equities, debt, and hedge fund strategies. It also deploys cash strategies to mitigate downside risks.

John Cleary, chief executive and chief investment officer at Focus Capital, says that by adopting a product-neutral stance the fund has greater flexibility than many of its rivals and so can seek higher risk-adjusted returns. "Most investment businesses are delineated and there are huge inefficiencies," he says.

Focus Capital has investments in at least 45 emerging markets. It has about 600 underlying positions managed by more than 100 portfolio managers and analysts.

More than 80% of the fund’s performance comes from strategic asset allocation, says Cleary. "That’s the top-down call," he says, emphasizing the importance of choosing the correct countries and assets. "The rest of the performance is a result of managing risk and outsourcing funds."

The fund has produced good returns in its short life (it has been running one year although it has only just launched publicly). It achieved a gross return of 19.2% against annualized volatility of 8.2%

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree