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Frontier markets specialist folds European operations

Frontier markets specialist folds European operations

London-headquartered frontier market and emerging market specialist RenAsset Management has filed to cancel its regulated listing in the UK.

Citywire Selector understands the firm, which has seen a series of liquidations over the past 18 months, no longer runs any European regulated funds under its Ucits-umbrella.

RenAsset Management was unavailable to comment.

On the website of the firm, which has UK headquarters in London, stated that RenAsset Management cancelled its registration with the FCA on December 30 2015.

The website stated: ‘RenAsset Management - formerly the investment manager for the RenAsset Select Funds and the RenAsset Global Funds - ceased being the investment manager in December 2015.’

As Citywire Selector revealed yesterday, the Dublin-domiciled Ucits funds had been taken over by Mori Capital Management, a new firm founded by former RenAsset Management fund manager, Aziz Unan.

Unan told Citywire Selector that, alongside his firm taking over the funds Renasset Ottoman and Renasset Eastern European, which he had previously managed, Sven Richter, fund manager at RenAsset Management, will continue managing the RenAsset Africa ex-SA fund on behalf of Mori Capital Management.

RenAsset Management had been taken over by the Moscow headquartered Kazimir Partners in 2013.

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