UK-listed equity fund manager Martin Currie plans to launch an open-ended global emerging markets fund later this year, adding to its Luxembourg-based SICAV range.

The new fund, Martin Currie GF, will be managed by Kim Catechis, supported by a team of seven, and will target incremental value above the MSCI Global Emerging Markets Index, the firm said. It will have a portfolio of between 40 and 60 stocks, with allocation unconstrained at both the country and sector level.

Martin Currie said that all its open-ended funds will comply with the revised UCITS directives, which kicked in on 1 July.

Catechis joined the Edinburgh firm in October last year as head of global emerging markets. Before that, he held the same position at Scottish Widows Investment Partnership, where he was responsible for $2 billion of assets under management.

Martin Currie managed $16.7 billion in client assets on 31 March this year.