Glasgow-headquartered Ignis Asset Management is repositioning and renaming its International Emerging Markets Fund as an International Emerging Markets Select Value Fund. It will employ a top-down strategy to actively allocate capital - via index futures and tracker funds - to the most attractive emerging countries, rather than to individual stocks.

Managed by James Smith, head of global funds, the fund will utilise the firm's proprietary MASAM (market and sector allocation model) quantitative screen to rank the 22 countries in the MSCI EM Free Index, and will also invest in selected frontier markets.

The fund will take a high conviction overweight or underweight exposure to markets, reassessing allocations on a daily basis, Ignis said.