Veteran emerging markets equity portfolio manager Robert Marshall-Lee has founded new firm Cusana Capital four months after his departure from Odey Asset Management.
Marshall-Lee announced on LinkedIn today (12 September) that he had started a new position as founding partner and chief investment officer.
Speaking to Investment Week, Marshall-Lee said: "Cusana will offer institutional clients an evolution of the high conviction long-term EM equity strategy that I founded and managed at Newton and then Odey under the Brook brand."
The company was first incorporated in February 2022, according to Companies House. Jos Trusted, former head of institutional business at Odey AM, is listed as a director at the firm.
Odey AM hires Newton's Marshall-Lee to head up new GEM team
Marshall-Lee left Odey's subsidiary Brook Asset Management in May after just over a year at the firm, which he joined to launch the firm's brand new emerging markets franchise. Sophia Whitbread stepped up to become the lead manager of the strategy following his departure.
According to Morningstar data, Marshall-Lee stopped managing the Brook Global Emerging Markets fund on 21 February 2022. Until then, the fund had lost 11.65% since its inception, while the MSCI EM index was down 10.49% over the same period.
Prior to joining Brook AM, he spent over 21 years at Newton Investment Management. Having previously been an analyst and global fund manager for the firm, he set up the global emerging markets desk from January 2011, launching the first fund - BNY Mellon Global Emerging Markets - in May 2011.
Brook AM expands GEM team with second Newton hire
Over Marshall-Lee's tenure, the BNY Mellon GEM fund has returned 148.9%, compared to its average peer in the IA Global Emerging Markets sector and its MSCI Emerging Markets benchmark's respective gains of 51.6% and 57.6%, according to data from FE fundinfo.
Trusted joined Odey AM in July 2020, following a two-year stint as chief executive officer New City equities at CQS Investment Management.
