Frontier markets specialist Andrew Brudenell has quit HSBC Global Asset Management to join rival group Ashmore as a portfolio manager.
Brudenell, who was featured as the Star Manager in the December 2014 edition of Citywire Selector magazine, formally left the firm in December.
During his tenure he had been head of the HSBC frontier markets strategy and lead portfolio manager on the $265 million HSBC GIF Frontier Markets fund.
He had overseen the fund since it was launched as a Luxembourg-domiciled vehicle in December 2011. It has since been taken on by his co-manager Chris Turner.
It is understood Brudenell (pictured) has joined Ashmore in a portfolio manager capacity and is working on the $30.1 million Ashmore SICAV Emerging Markets Frontier Equity fund.
Brudenell spent nine years with HSBC GAM, having joined from Deutsche Asset Management. During his seven years with the German firm he had worked on US, global and Australian equities.
The HSBC GIF Frontier Markets A Cap USD fund returned 6.1% in US dollar terms over the three years to the end of February 2016. The MSCI Frontier Markets TR USD rose 4.4% over the same timeframe.