Standard Life Investments has launched its first fund for its newly-formed emerging market debt team under Richard House.

The Emerging Debt Fund, which will be run by lead manager House, will invest primarily in US dollar-denominated emerging market debt and will be benchmarked against the JP Morgan EMBI Global Diversified Index.

This marks Standard Life Investment’s first foray into emerging market debt and is designed to capture the current trend among investors towards developing world bond funds.

House, who joined from Threadneedle to set up Standard Life’s EMD unit, will adopt a top-down view, combined with country analysis in order to build the Emerging Market Debt Fund portfolio.

Commenting on the launch, Euan Munro, executive director responsible for fixed income at Standard Life Investments, said: ‘The launch of the Emerging Market Debt Fund will enable investors to tap into this growing and truly diverse sector.’

House was one of three names to join from Threadneedle in April, with Mark Baker and Nicholas Jaquier also lining up in Standard Life’s emerging market debt unit.

The announcement of the Standard Life fund comes hot-on-the-heels of Threadneedle naming House’s successors on its EMD desk.

The London-based outfit last week announced the appointment of John Peta from Acadian Asset Management, who will lead the eight-strong team alongside fixed income specialist Henry Stipp.