Asset manager Aberdeen is to launch a UK-listed emerging markets smaller companies investment trust.

A sister to its Asian Smaller Companies Investment Trust, the new trust is aimed at investors looking for exposure to what Aberdeen thinks is an under-researched, but fast growing, part of emerging markets.

The investment trust will seek up to £150 million (about $250 million) in gross proceeds and will be managed by Aberdeen’s 35-strong emerging markets equity team including Devan Kaloo and Mark Gordon-James. It will aim at long-term capital growth by investing in a diversified portfolio of listed emerging market smaller companies.

Aberdeen believes rising domestic consumption is a key attraction of emerging markets and that high quality smaller companies are a direct and preferable way to gain exposure to this trend.

The trust will be listed on the London Stock Exchange. The launch will consist of a placing with institutions and a public offer for private investors.