Ashmore SICAV Emerging Markets Absolute Return Debt Fund Institutiona USD Acc

The Fund’s objective is to maximise absolute return by investing in a range of diversified transferable securities and/or other liquid financial assets. The Fund is actively managed by Ashmore Investment Management Limited and references US Libor (the “Benchmark”) as part of its investment process for the purpose of comparing its performance against that of the Benchmark. The Investment Manager has full discretion over the composition of the portfolio of the Fund. The Fund aims to be mainly invested in bonds and other debt instruments issued by Emerging Market sovereign, quasi-sovereign and corporate entities, denominated in Emerging Market local currencies as well as US dollars and other major currencies. Corporate entities must be domiciled in or derive at least 50% of their revenue from one or more Emerging Markets. The Fund may not invest more than 35% of its net assets in investments denominated in a single currency other than the US dollar (unless over such amount, such investments are hedged into US dollars). The Fund may not invest more than 30% (in aggregate) of its net assets into entities that are not sovereigns or quasi-sovereigns. The Fund may also be invested in financial instruments whose value derives from the value and characteristics of one or more underlying assets (derivatives) and engage in certain techniques for hedging purposes and efficient management of assets. The Fund may not grant loans or guarantees in favour of a third party. The Fund primarily uses an active, macro top-down approach to investment management. The reference currency of the Fund is USD. Transaction costs may have a material impact on performance, depending on factors such as market liquidity. Any income from your investments will be reinvested on a monthly basis, unless you agree otherwise in writing. You can buy or sell shares in this Fund on any bank business day in Luxembourg and London (excluding Saturdays and Sundays), or such other days as the board of directors shall determine from time to time by submitting an application form to the Administrator before the dealing deadline. For full investment objectives and policy details, please refer to section 2 of the Fund's prospectus available at www.ashmoregroup.com.