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EM medal winners: top managers of the past four years

EM medal winners: top managers of the past four years

Athletes from around the world have this month gathered in Rio de Janerio to compete in a host of sports, covering volleyball, archery and equestrian, among many others.

Citywire Selector delves into fund manager data, to take a light-hearted look at the investors who have stayed fighting fit in the emerging markets since the last Olympic Games took place four years ago.

The first in our two part Olympic series detailed the achievements of managers in global bonds, global equities, European equities and European bonds.

In this second part, we look at how managers from across the developing world asset classes have performed over the four years to the end of June 2016.*

*Analysis focuses on cross-border fund performance, co-managers are treated as one entry.

Emerging Markets- Global Local Currency

  Name Group Four-year returns Funds
Gold Michal Wozniak
BlackRock 8.94% BGF Emer Mkts Loc Curr Bd
Silver Michael Hasenstab & Laura Burakreis
Franklin Templeton 4.83% Templeton Emerging Markets Bond
Bronze Daniel Moreno
Rubrics Asset Management 1.86% Rubrics Emerging Markets Fixed Income Ucits

Travelling at the speed of light to the top of the leader board is BlackRock’s Michal Wozniak, who tops the four year figures for his performance at his current employer and also his tenure at Lombard Odier IM.

Scooping second place is Franklin Templeton duo Michael Hasenstab and Laura Burakreis, who have achieved a 4.8% return. As of June 2016 the pair held 15.57% of their EM bond fund in Ukraine, 11.99% in Brazil and 7.95% in Ghana.

Picking up bronze is Rubric’s Daniel Moreno, who has a more diverse approach in his  Dublin-domiciled fund. His latest fund update highlighted how the biggest short-term gains came from long-dated bonds in Mongolia, El Salvador, Pakistan, Gabon and Ghana.

Emerging Markets - Global Hard Currency

  Name Group Four-year returns Fund
Gold Jean-Jacques Durand
Edmond de Rothschild 49.67% Edmond de Rothschild Fund- Emerging Bonds
Silver Helene Williamson
First State 23.25% First State Emerging Markets Bond A Acc Hedged & First State Emerging Markets Bond I
Bronze Bob Maes
KBC Asset Management 22.73% KBC Bonds Emerging Markets Cap

Grabbing gold for the hard currency sector is Edmond de Rothschild’s Jean-Jacques Durand. In a recent fund manager commentary, Durand had highlighted pre-coup Turkey as an investment opportunity, as he believed assets had become more attractive given the strength of the country and investors’ positioning.

In second place is First State’s Helene Williamson, who has over 30 years’ experience in the asset management industry. Williamson currently has 39.4% allocated to Latin America and 29.5% allocated to Europe.

Third sits Bob Maes, who in 2015 was one of the top EMD hard currency managers of the year. Maes has run the Luxembourg-domiciled fund since June 2011, the objective of the fund is to invest primarily in markets such as Southeast Asia and Latin America.

Emerging Market Equities – Global

  Name Group Four-year returns Fund
Gold David Gait
Stewart Investors 24.19% Stewart Investors Global Em Mkts Sustnbl
Silver Nick Langley & Richard Elmslie
RARE Infrastructure 19.85% Rare Emerging Markets G
Bronze Gary Greenberg
Hermes 19.22% Hermes Global Emerging Markets

Topping the EM equity charts is Citywire AA-rated David Gait, who looks to the Indian rupee as the funds top currency and as of June 2016 had 26.39% allocated to it. He also has 13.93% invested in Brazilian real, 11.21% to the Chilean peso, 7.54% to the Taiwan dollar and 7.28% to the Philippine peso.

Running into second place is RARE duo Nick Langley and Richard Elmslie, who focus the bulk of their fund on Asia Pacific emerging markets, and as of May 2016 had 51% allocated to the region. This was closely followed by Latin America 40%, Middle East 1%, Eastern Europe 1% and a 7% allocation to cash.

Finishing up in third is Citywire AA-rated Gary Greenberg, whose top 10 holdings include big names such as Tencent 6.13%, Taiwan Semiconductor Manufacturing 5.27% and Alibaba 3.09. Greenberg is also overweight in China 29.52%, Taiwan 16.78% and India 15.99%.

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Related Fund Managers

Michal Wozniak
Michal Wozniak
1/123 in Bonds - Emerging Markets Global Local Currency (Performance over 3 years) Average Total Return: 19.17%
Michael Hasenstab
Michael Hasenstab
7/123 in Bonds - Emerging Markets Global Local Currency (Performance over 3 years) Average Total Return: 7.59%
Laura Burakreis
Laura Burakreis
8/123 in Bonds - Emerging Markets Global Local Currency (Performance over 3 years) Average Total Return: 7.59%
Daniel Moreno
Daniel Moreno
2/123 in Bonds - Emerging Markets Global Local Currency (Performance over 3 years) Average Total Return: 12.27%
Jean-Jacques Durand
Jean-Jacques Durand
1/155 in Bonds - Emerging Markets Global Hard Currency (Performance over 3 years) Average Total Return: 40.47%
Helene Williamson
Helene Williamson
30/155 in Bonds - Emerging Markets Global Hard Currency (Performance over 3 years) Average Total Return: 17.25%
Bob Maes
Bob Maes
13/155 in Bonds - Emerging Markets Global Hard Currency (Performance over 3 years) Average Total Return: 18.62%
David Gait
David Gait
169/455 in Equity - Global Emerging Markets (Performance over 3 years) Average Total Return: 5.58%
Nick Langley
Nick Langley
19/455 in Equity - Global Emerging Markets (Performance over 3 years) Average Total Return: 16.29%
Richard Elmslie
Richard Elmslie
20/455 in Equity - Global Emerging Markets (Performance over 3 years) Average Total Return: 16.29%
Gary Greenberg
Gary Greenberg
7/455 in Equity - Global Emerging Markets (Performance over 3 years) Average Total Return: 22.60%
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