Top emerging market bond fund managers are in short supply in the general rush to increase fixed income investment in the developing world.
The UK’s Standard Life Investments has poached a three-man team from London-based Threadneedle Investments to create its own emerging markets bonds desk.
It won’t be the last such move. As beyondbrics has reported, many bond fund managers are fundamentally reassessing the traditional split between developed and developing markets in their portfolios – and shifting money into EMs.
In an announcement on Thursday, Standard said its new team would be led by Richard House, as the new head of emerging market debt, together with Mark Baker and Nicolas Jaquier who will join as investment directors, global emerging market bonds.
Rod Paris, Head of Investments, Standard Life Investments said:
I believe that the strategic decision to increase our capability in emerging market bonds will enhance the suite of solutions we have designed to help clients achieve their investment targets.
House has been head of EMD at Threadneedle since 2007. Baker was an EMD investment specialist, and Jaquier an emerging market quants analyst.
The announcement came on the same day as beyondbrics summarised a report from Pimco, the world’s largest bond investor, encouraging investors to increase their EM fixed income exposure at the expense of developed world holdings.