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Algebris poaches Amundi PM

Algebris poaches Amundi PM

Asset management boutique Algebris Investment has hired Abbas Ameli to join its macro team.

Ameli joins the firm from Amundi, where he was a portfolio manager covering emerging market bonds and currencies.

He will work alongside Alberto Gallo, who manages the Algebris Macro Credit fund, alongside portfolio manager Aditya Aney, Tao Pan and macro analysts Pablo Morenes.

Commenting on the hire Gallo said: ‘Ameli’s expertise in EMs will be a great addition to Algebris, enhancing our capacity to generate returns globally.

‘The future will be increasingly challenging for investors, as markets will learn to walk without holding the hand of central bankers.’

The hiring of Ameli follows a busy period for Algebris, which included the launch of an Italy-focused equity fund last month.

Since its inception in 2016, the Macro Credit fund has grown from $50 million to $817 million.

Over the one year to the end of October 2017, the fund returned 13.64% in euro terms. This compares with a 0.23% rise by its benchmark the Citi WGBI TR USD, over the same time period.

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