Fund Management

Khan Investment Management To Launch Mongolia Fund

Vanessa Doctor Asia Correspondent 10 July 2011

Khan Investment Management To Launch Mongolia Fund

Khan Investment Management is launching a new fund in a bid to capitalise on investment opportunities in Mongolia. 

The Khan Mongolia Equity Fund is set to open in August and will invest in firms with significant assets and operations in the country that are listed both internationally and on the Mongolia Stock Exchange. Gordian Capital Singapore Private, a specialist fund manager with more than $300 million in assets under management, has been appointed as investment manager of the fund, while Monet Capital, an investment banking firm in Ulaanbaatar, will be the chief investment advisor.

"Growth will be primarily driven by the development of the nation's mining sector, which includes some of the largest coal, copper, gold and uranium deposits," said Travis Hamilton, managing director of Khan. He added that Mongolia is forecast to have the fastest growing economy in the world over the next decade. 

Mongolia, a country rich in natural resources, is strategically located between China and Russia, which allows it to supply raw materials to key consumer nations. According to the Central Intelligence Agency World Factbook, Mongolia has a gross domestic product of $11.02 billion as of 2010, with the economy growing 6.1 per cent in the said year due mostly to exports to nearby countries.

Khan Investment Management is Cayman-based.

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