Investment Approach

Carrhae Capital LLP (“Carrhae”) was founded in 2011 based on a simple aspiration : to create a leading Emerging Markets Equities boutique known for the quality of its investment returns.

We believe that EM equities are a highly inefficient asset class, with characteristics that impede price discovery and therefore lead to compelling opportunities for fundamental investors.

These pricing inefficiencies stem from the heterogeneous characteristics of individual economies (different languages, varied political systems and regulatory frameworks, different investor bases, lack of common currency…etc) combined with the large and growing amounts of passive, index-linked capital that is allocated to the EM complex and that seeks to classify it as a homogeneous entity.

These contradictory factors we believe create a fertile ground for the more nimble, active equity investor to generate alpha by seeking the most compelling risk/return opportunities across an EM investment universe free from benchmark constraints or considerations.

Funds Managed

We currently manage two products : a low market exposure long/short equity fund, and a long equities fund. For more information on either fund, please contact us.