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¶ – Release Delayed ·As Of Filer Filing For·On·As Docs:Size Issuer Agent 11/23/10 Ashmore Funds N-1A/A¶ 19:2.0M Donnelley … Solutions/FA → Ashmore Emerging Markets Corporate Income Fund ⇒ Institutional Class Shares (EMCIX) → Ashmore Emerging Markets Currency Fund ⇒ Institutional Class Shares (ECYIX) → Ashmore Emerging Markets Hard Currency Debt Fund ⇒ Institutional Class Shares (ESDIX) → Ashmore Emerging Markets Local Currency Bond Fund ⇒ Institutional Class Shares (ELBIX) → Ashmore Emerging Markets Total Return Fund ⇒ Institutional Class Shares (EMKIX) |
Document/Exhibit Description Pages Size
1: N-1A/A Ashmore Funds HTML 992K
19: CORRESP ¶ Comment-Response or Other Letter to the SEC HTML 6K
2: EX-99.(A)(2) Amended & Restated Agreement and Declaration of HTML 85K
Trust of Registrant 11/16/2010
3: EX-99.(B)(2) Amended & Restated Bylaws of the Registrant HTML 30K
Dated November 16, 2010
4: EX-99.(D)(1) Form of Investment Management Agreement Between HTML 45K
Ashmore and the Registrant
5: EX-99.(D)(2) Form of Expense Limitation Agreement Between HTML 27K
Ashmore and the Registrant
6: EX-99.(G) Form of Custody Agreement Between the Northern HTML 95K
Trust Company and the Registrant
7: EX-99.(H)(1) Form of Fund Administration and Accounting HTML 86K
Services Agreement
8: EX-99.(H)(2) Form of Transfer Agency and Service Agreement HTML 145K
9: EX-99.(I) Opinion and Consent of Counsel HTML 15K
10: EX-99.(J) Consent of Independent Registered Public HTML 9K
Accounting Firm
11: EX-99.(L) Form of Initial Capital and Subscription Agreement HTML 13K
12: EX-99.(P)(1) Code of Ethics of the Registrant HTML 34K
13: EX-99.(P)(2) Code of Ethics of Ashmore HTML 149K
14: EX-99.(Q)(1) Power of Attorney for Yeelong Balladon HTML 9K
15: EX-99.(Q)(2) Power of Attorney for George Gorman HTML 9K
16: EX-99.(Q)(3) Power of Attorney for George Grunebaum HTML 9K
17: EX-99.(Q)(4) Power of Attorney for Oliver Kane HTML 9K
18: EX-99.(Q)(5) Power of Attorney for Martin Tully HTML 9K
| Opinion and Consent of Counsel |
|
PRUDENTIAL TOWER 800 BOYLSTON STREET |
Exhibit (i) |
Ashmore Funds (the “Trust”)
c/o Ashmore Investment Management Limited
61 Aldwych
London WC2B 4AE
England
Dear Ladies and Gentlemen:
We are furnishing this opinion in connection with Pre-Effective Amendment No. 2 under the Securities Act of 1933, as amended (the “Securities Act”), and Post-Effective Amendment No. 2 under the Investment Company Act of 1940, as amended, to the Registration Statement on Form N-1A of Ashmore Funds (the “Trust”) for the registration of an indefinite number of shares of beneficial interest, $0.00001 par value (the “Shares”), of its Ashmore Emerging Markets Corporate Debt Fund, Ashmore Emerging Markets Local Currency Fund, Ashmore Emerging Markets Local Currency Bond Fund, Ashmore Emerging Markets Sovereign Debt Fund and Ashmore Emerging Markets Total Return Fund. We assume that each of the Shares will be sold for the consideration described in the Registration Statement of the Trust on Form N-1A, as amended to the date of such sale, and that such consideration will in each event be at least equal to the net asset value per Share of such Shares.
We have examined an executed copy of your Amended and Restated Agreement and Declaration of Trust, as amended to the date hereof (the “Declaration of Trust”), on file in the offices of the Secretary of The Commonwealth of Massachusetts and the Clerk of the City of Boston, and the Amended and Restated Bylaws of the Trust, as amended to the date hereof, and are familiar with the actions taken by your trustees to authorize the issue and sale to the public from time to time of authorized and unissued Shares. We have further examined such other documents and records as we have deemed necessary for the purpose of this opinion.
Based on the foregoing, we are of the opinion that:
1. The beneficial interests in the Ashmore Emerging Markets Corporate Debt Fund, Ashmore Emerging Markets Local Currency Fund, Ashmore Emerging Markets Local Currency
| Ashmore Funds | - 2 - | November 22, 2010 |
Bond Fund, Ashmore Emerging Markets Sovereign Debt Fund and Ashmore Emerging Markets Total Return Fund series are divided into an unlimited number of Shares.
2. The issue and sale of the authorized but unissued Shares has been duly authorized under Massachusetts law. Upon the original issue and sale of any of such authorized but unissued Shares and upon receipt of the authorized consideration therefor in an amount not less than the applicable net asset value, the Shares so issued and sold will be validly issued, fully paid and, except as described in the following paragraph, nonassessable by the Trust.
The Trust is an entity of the type commonly known as a “Massachusetts business trust.” Under Massachusetts law, shareholders could, under certain circumstances, be held personally liable for the obligations of the Trust. However, the Declaration of Trust disclaims shareholder liability for acts or obligations of the Trust and requires that notice of such disclaimer be given in every note, bond, contract, instrument, certificate or undertaking made or issued on behalf of the Trust. The Declaration of Trust provides for indemnification out of the property of the particular series of shares for all loss and expense of any shareholder or former shareholder of such series (or his or her heirs, executors, administrators or other legal representatives, or, in the case of a corporation or other entity, its corporate or other general successor) held personally liable solely by reason of his or her being or having been a shareholder. Thus, the risk of a shareholder incurring financial loss on account of shareholder liability is limited to circumstances in which the series itself would be unable to meet its obligations.
We understand that this opinion is to be used in connection with the registration of an indefinite number of Shares for offering and sale pursuant to the Securities Act. We consent to the filing of this opinion with and as part of your Registration Statement on Form N-1A (File Nos. 333-169226 and 811-22468) relating to such offering and sale.
| Very truly yours, |
| /s/ Ropes & Gray LLP |
| Ropes & Gray LLP |
| This ‘N-1A/A’ Filing | Date | Other Filings | ||
|---|---|---|---|---|
 | ||||
| Filed on: | 11/23/10 | CORRESP, N-18F1 | ||
| 11/22/10 | ||||
| List all Filings | ||||
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 3/08/24 Ashmore Funds 485APOS 1:1.5M Donnelley … Solutions/FA 2/27/24 Ashmore Funds 485BPOS 2/28/24 27:15M Donnelley … Solutions/FA 12/21/23 Ashmore Funds 485APOS 8:5.6M Donnelley … Solutions/FA 2/24/23 Ashmore Funds 485BPOS 2/28/23 27:13M Donnelley … Solutions/FA 2/25/22 Ashmore Funds 485BPOS 2/28/22 30:12M Donnelley … Solutions/FA 2/26/21 Ashmore Funds 485BPOS 2/28/21 107:18M Donnelley … Solutions/FA 12/15/20 Ashmore Funds 485APOS 1:1.3M Donnelley … Solutions/FA 9/11/20 Ashmore Funds 485BPOS 9/14/20 8:1.7M Donnelley … Solutions/FA |