Alliance Trust, the UK-based investment manager, plans to launch an emerging market equity income fund at the end of the year, according to Money Marketing.
The fund will accompany a global equity income fund and a fixed income offering in a trio of income products which are set to be released simultaneously.
Edward Troughton, managing director of Alliance Trust, told the publication that there is a gap in the emerging market equity product sector as some funds have been closed.
Troughton added that the firm will make use of the knowledge of its fixed income team, recruited from Scottish Widows Investment Partnership in 2009, in the launch.
Alliance Trust hired Ilario Di Bon from Fidelity International as head of global equities last week. The firm is headquartered in Dundee, Scotland, and managed assets worth £2.9 billion (about $4.6 billion) at end January this year.