The FSA Spy market buzz – 24 March 2023
Bitcoin rolling futures, new fund pricing models gather pace, greenbleaching, sustainable bonds (not), thematic investing at the top; consultant jokes, Munger’s wisdom and much more.
The Axa fund has been lead-managed by Sailesh Lad since February 2016 and his manager Mikhail Volodchenko since October 2017, “so it is quite a new team, which makes a comparison with the Jupiter fund, incepted just two years ago, appropriate,” said Cheung.
Lad has 20 years of experience in the fixed income markets, including a decade as a fund manager at Janus Henderson, and Volodchenko also has a strong investment background, Cheung said.
‘However, there is always the risk that the chemistry of a new team doesn’t work, and time will tell if it is successful.”
He admits to being more familiar with Aljandro Arevalo, manager of the Jupiter fund.
Arevalo joined Jupiter in November 2016 and also manages the Jupiter Global Emerging Markets Corporate Bond Fund as well as the Global Emerging Markets Short Duration Bond Fund.
Before Jupiter, he spent four years as an emerging markets corporate debt portfolio manager at Pioneer Investments, and previously worked on emerging market debt strategies at Standard Bank Asset Management, Gibraltar Bank and the International Bank of Miami.
“Arevalo is very experienced, has a solid, consistent process and is well-supported by analysts and two other portfolio managers,” said Cheung.
Part of Mark Allen.