Ashmore said that the new fund is an open-ended vehicle primarily investing predominantly in Turkish equity and equity related instruments issued by corporates and quasi-sovereigns.

Ashmore's globally managed funds have been major investors in Turkish equities since 1987, and Ashmore further strengthened its Turkish connections when it launched Ashmore Portföy, Turkey in 2008, one of its first domestic asset management ventures, the firm said.

“Ashmore’s new Turkish Equity Fund will provide global institutional and retail investors with the opportunity for long-term capital growth. Turkey’s fundamentals offer a very attractive investment proposition. Turkey has a young population, its economy is growing and fiscal performance is strong.  Investing in Ashmore’s Turkish Equity Fund, which we will manage actively based on fundamental analysis and research, will provide investors with a well-diversified portfolio of Turkish equities,” said Didem Gordon, chief executive of Ashmore, Turkey.

The firm said that its SICAV Turkish Equity Fund is an open-ended daily dealing UCITS IV Luxembourg registered fund. The fund will be registered for sale in Austria, Germany, Luxembourg, Switzerland and the UK and is available in share class denominations in US Dollars, Euros, UK Sterling and other currencies.

Ashmore Investment Management had $77.4 billion in assets under management, as at 30 June 2013.