Statement re New Manager and New Adviser
For immediate release 18th June,2004
GENESIS EMERGING MARKETS FUND LIMITED
(the "Company")
New Genesis Manager and New Genesis Adviser
The Board of the Company wishes to announce that Affiliated Managers Group, Inc.
("AMG"), an asset management holding company, has completed its acquisition of a
majority equity interest in certain operating businesses of Genesis Holdings
International Limited.
Pursuant to the purchase agreement entered into between Genesis Holdings
International Limited and others with AMG on January 23, 2004, as part of the
transaction, Genesis Fund Managers Limited, the Manager of the Company, has
transferred substantially all of its assets and certain obligations to Genesis
Fund Managers, LLP ("New GFM"), and Genesis Investment Management Limited, the
Investment Adviser of the Company, has transferred substantially all of its
assets and certain obligations to Genesis Investment Management, LLP ("New
GIML"). Effective immediately New GFM and New GIML will commence providing
investment management and advisory services respectively to the Company.
As a result of this transaction, AMG has become the managing partner of New GFM
and holds a 60% ownership interest in New GFM, and New GFM in turn holds a 60%
ownership interest in, and has become the managing partner of New GIML. The
remaining 40% of the ownership interest in New GFM and New GIML is held by
members of existing Genesis management. Genesis has advised the Company that
they do not anticipate changes in personnel or investment policy upon completion
of this transaction.
Enquiries:
Management International (Guernsey) Limited Martine Stanley
Phone (+44 1481) 707000
Latest directors dealings
- 2 hours ago Oxford Nanopore Technologies
- 3 hours ago AVI Global Trust
- 3 hours ago LSL Property Services
- 3 hours ago Bluebird Merchant Ventures (DI)
- 3 hours ago Power Probe PLC