Merrill Lynch launches emerging markets tech fund

The fund will invest in 60 medium growth companies in the tech sector across Asia, Latin America and emerging Europe.

Merrill Lynch began trading its latest tech fund last Friday, focusing on the telecoms and tech industry in emerging markets, with a seed capital of $5 million from the manager's own pockets. The fund is an addition to the company's $15 billion Mercury Selected Trust family, investing in sectors from semiconductor equipment and wireless telecommunications to electronic equipment and IT consulting and services.

Called MST Emerging Markets TeleTech Fund, it aims to invest in small to medium growth stocks in Asia, Latin America and EEMEA emerging Europe and Middle-East and Africa. Countries that are covered include Taiwan, Korea, India, Brazil, South Africa, Israel, Turkey and Russia.

According to fund manager Ali Khalpey,...

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