ANZ Emerging Markets Fund Management has completed a management buyout from its parent company, Australia and New Zealand Bank, the money manager said in a statement. Terms of the deal were not disclosed. The new company, Ashmoore Investment Management, will continue to specialize in emerging markets debt. ANZ Bank wanted to cut its exposure to emerging markets, said Tony Kane, a spokesman for Ashmoore. Mark Coombs, head of global markets for ANZ Group, will be Ashmoores managing director. Mr. Coombs will not be replaced because of the wide cutbacks by ANZ, said Jerome Booth, head of research for Ashmoore.