Carmignac launches SRI EMD fund amid raft of promotions

Carmignac has launched a socially responsible emerging market debt fund, alongside the announcement of a raft of promotions and fund manager 'adjustments' on its existing fund range.

The Carmignac Portfolio Unconstrained EM Debt fund will be managed by Joseph Mouawad with an SRI approach. The firm said it would be flexible and opportunistic and follow an unconstrained, conviction-driven allocation strategy.

Alongside the launch, the Paris-based firm said it had made a number of changes within its fund management team.

Within its fixed income team, Keith Ney will step back from the management of Carmignac Sécurité to focus on Carmignac Portfolio Patrimoine Europe, which he runs alongside European equities head Mark Denham.

Ney will be replaced by Marie-Anne Allier, who will become sole manager on Carmignac Sécurité. Allier has been co-manager alongside Ney since joining Carmignac in 2019.

On the equity side, the firm said it had promoted portfolio manager and Greater China equity analyst Haiyan Li-Labbé to co-manager of its Emergents fund, and Asian equities analyst Amol Gogate to co-manager of the Portfolio Emerging Discovery fund, both of whom will be running the vehicles alongside head of emerging markets at the firm, Xavier Hovasse (pictured).

Meanwhile, current manager of Carmignac's Portfolio Alpha Themes fund Emmanuel Niogret (who joined the company in 2019) will now also run the Carmignac Portfolio Long-Short Global Equities mandate.

Head of Carmignac's fixed income proposition Rose Ouahba said the adjustments made within the team had "been planned with the objective of reinforcing [its] tight-knit team of experts".

Ouahba added that Allier "appreciates the high expectations of Carmignac Sécurité's investors and its dual mandate designed to combine attractive returns and disciplined risk management, while Mouawad "has demonstrated all the necessary qualities as head of our emerging bond practice".

"We believe we are now ready to navigate fixed income markets in 2021 and beyond," she said.

Head of the equity team David Older added: "Emerging markets have always been a key focus for Carmignac, and we have built up an excellent practice.

"Haiyan Li-Labbé and Amol Gogate have both bolstered our EM expertise, helping us take advantage of opportunities in the Asian equity market. Throughout their tenure, they have worked closely with Xavier Hovasse and we see their promotions as a natural step to reinforce our investment capabilities."

(First published by our sister title Investment Week)