Citywire Selector - For Professional Investors

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Boutique launches EM fund for veteran former BNP Paribas manager

French boutique Lutetia Capital has taken its first step into the emerging markets equity sector with the launch of a fund for veteran former BNP Paribas manager Claude Tiramani.

Tiramani, who has 20 years experience in the emerging markets and joined the boutique in June, will run the new Lutetia Emerging Opportunities fund, which will put a particular focus on domestic demand in the region.

Tiramani is focusing on the consumer and infrastructure sectors as urbanisation continues to increase. Over 125 million people across India and China are expected to move to the cities in the next five years, according to Tiramani, creating many opportunities within the domestic property and infrastructure markets.

China is his biggest country position with over a quarter of his holdings currently in the world’s second largest economy. Rising wages in China is just one of the reasons Tiramani is confident on this consumer sector in the country. He says its car industry is also booming with ‘one car bought every two seconds with a market penetration of only 4%’.

Outside the BRIC markets, which constitute a large part his portfolio, Tiramani is betting on countries such as the Philippines, where he is overweight compared to his MSCI Global EM benchmark by 3%. He is also overweight in Indonesia, where he likes its cement producers, and Thailand.

Some of his top holdings are Russian supermarket chain Magnit, Philippine property group Vistaland and Indian car manufacturer Tata Motors.

The competition within this market is rife but the French group believes the 20-year track record of Tiramani, who managed a total of $10 billion for BNP Paribas, gives him an edge over many of its rivals.

‘We are very happy to have one of Europe’s most distinguished emerging-markets investors launching a fund with us,’ said Fabrice Seiman, the firm’s co-founder. ‘In a sector where most PMs have perhaps five years of experience, Claude offers the benefit of 20 years in the sector – and his accomplishments have won him deserved industry recognition.’

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Events
  • Citywire Luxembourg Forum

    Citywire Luxembourg Forum

  • Citywire DACH 2017

    Citywire DACH 2017

  • Citywire Italy 2017

    Citywire Italy 2017

  • Citywire Berlin 2017

    Citywire Berlin 2017

  • Citywire Miami 2017

    Citywire Miami 2017

  • Citywire Professional Buyer

    Citywire Professional Buyer

  • Citywire Madrid 2017

    Citywire Madrid 2017

  • Citywire Switzerland Retreat 2017

    Citywire Switzerland Retreat 2017

  • Citywire Amsterdam 2017

    Citywire Amsterdam 2017

  • Citywire Frankfurt 2017

    Citywire Frankfurt 2017

  • Citywire Alternative Ucits Retreat 2017

    Citywire Alternative Ucits Retreat 2017

  • Citywire Paris 2017

    Citywire Paris 2017

  • Citywire Milan 2017

    Citywire Milan 2017

  • Citywire Deutschland 2017

    Citywire Deutschland 2017

  • Citywire DACH 2017

    Citywire DACH 2017

  • Citywire Italy 2016

    Citywire Italy 2016

  • Citywire Milan 2016

    Citywire Milan 2016

  • Citywire Alt Ucits 2016

    Citywire Alt Ucits 2016