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Methinks they will wait till carnage in Emerging Markets looks like it is getting over. They are in no rush IMHO. WHEN vs WHAT always rules. Timing is everything.
Took 2-3 months for a fund at Price to become available after David mentioned the SEC filing here. Even their reps seemed in the dark about it until it became available.
Reply to @hank: Hank we are taking about Emerging Markets fund. I think you are thinking of Global Reach fund. They were both filed at the same time. Global Reach is available but Emerging Markets is not.
Reply to @Investor: Yes - Was referring only to my experience with Price's Global Allocation fund. Although David noted the SEC filing in his April 1 Commentary, the fund did not open until May 28. No intent to imply that the two funds are related. Just thought my experience might be of some limited value to mrc70 in the absence of anything more specific.
Spoke with the Grandeur Peak folks. Two factors are driving the delay. First, the managers want to be able to invest directly in Indian equities which requires registration with that country's equity regulators. They couldn't begin the registration until the fund itself was registered in the US. So they're working through the process. Second, they wanted to be comfortable with the launch of Global Reach before adding another set of tasks. Give or talk the market's current tantrum (one manager describes it as "a taper tantrum"), that's going well. With luck, but without any guarantees, the fund might be live sometime in Q4.
Reply to @equalizer: They do not appear to hedge. There's a section of the prospectus on currency risk and a discussion of the risk of not hedging. There's no explicit reference to a policy on the matter, so I assume it will be unhedged. There's the prospectus link: http://www.sec.gov/Archives/edgar/data/915802/000119312513191416/d485683d485bpos.htm. Emerging Opportunities appears about 30% of the way through the file.
Comments
Spoke with the Grandeur Peak folks. Two factors are driving the delay. First, the managers want to be able to invest directly in Indian equities which requires registration with that country's equity regulators. They couldn't begin the registration until the fund itself was registered in the US. So they're working through the process. Second, they wanted to be comfortable with the launch of Global Reach before adding another set of tasks. Give or talk the market's current tantrum (one manager describes it as "a taper tantrum"), that's going well. With luck, but without any guarantees, the fund might be live sometime in Q4.
For what interest it holds,
David
David