Oliver Crawley, partner and head of European marketing, says that while the full details are yet to be determined, it is likely that a minimum investment of $10,000 or equivalent and an annual management charge (AMC) of 1.25 per cent may be offered as terms.
The $70m Small Cap fund is currently available in the UK through its distributor status. It is incorporated in Delaware as a limited liability company (LLC) because of requirements from original seed investors. The fund has been managed since launch in August 2008 by Mark Asquith.
According to Financial Express data the fund outperformed its MSCI Emerging Markets benchmark index by 49.65 per cent in the year to 14 June.
Performance of Somerset Emerging Markets Small Cap fund over 1-yr
Source: Financial Express Analytics
According to Somerset Capital Management figures, holdings in the fund are heavily weighted to India, Brazil, Thailand, China and South Africa - accounting for 19.4, 10.3, 10.3, 10.3 and 9.5 per cent respectively as of 31 May.
The top individual holding is Sibirtelecom of Russia at 3.7 per cent of the net asset value (NAV). It is followed by Eicher Motors of India on 3.6 per cent, and St Shine Optical of Taiwan on 3.6 per cent.
The development of the emerging markets consumer is a theme that strongly shines through in the holdings figures - despite Somerset being a true stockpicker. Crawley notes that this is a key trait of the way the company manages money; it looks at macro themes, but if the company level story does not stack up then the provider's funds will not invest.
The Small Cap fund has both Consumer Discretionary and Consumer Staples in its top three sectors. The third is Financials.