The FSA Spy market buzz – 13 December 2024
M&G’s positive outlook; Wisdom from Schroders’s podcast; Alliance Bernstein on the power of curiosity; Janus Henderson on responsible AI; China’s retirement revolution; Apple and much more.
HEAD-TO-HEAD: Neuberger Berman vs Pictet
FSA compares two global emerging market bond funds: the Neuberger Berman Emerging Market Debt Fund and the Pictet Global Emerging Debt Fund.
The lead manager of the NB fund is Rob Drijkoningen, with Bart van der Made and Gorky Urquieta as co-heads. They all transferred to NB at the beginning of 2013 from NN IP and have been working on the fund since 2000.
Besides them, around 17 of the 27 team members from NN IP in The Hague, Atlanta and Singapore also transferred with the managers to NB. The team has remained largely intact even after the transfer to NB, according to Faassen.
The Pictet fund has been managed by Simon Lue-Fong since he joined the firm in 2005. Lue-Fong is also head of the emerging markets debt team, which he has built from scratch.
The team has around eight portfolio managers. It has seen three departures since 2005 – one in 2016 and two this year, which include a junior manager joining another firm and another to set up his own currency strategy investment boutique, Faassen said.
However, Faassen sees the departures as minor. He believes that both the NB and Pictet teams are stable and well-resourced.
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