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US group unveils unconstrained EMD fund for boutique CIO

US group unveils unconstrained EMD fund for boutique CIO

Principal Global Investors has launched an unconstrained emerging market bond fund for its specialist developing world debt subsidiary, Finisterre Capital, Citywire Selector can exclusively reveal.

The Dublin-domiciled fund will be overseen by Damien Buchet (pictured), who is chief investment officer at the London-based boutique, alongside portfolio manager Christopher Watson.

The Finisterre Unconstrained Emerging Markets Fixed Income fund will invest across emerging market fixed income, focusing on opportunities from across income-generating opportunities.

Buchet joined the group, which is majority-owned by Principal Global Investors, in September 2015 having previously been head of emerging market debt at AXA Investment Managers.

Commenting on the launch, Buchet said: ‘The unconstrained framework means the fund has the freedom to invest where our convictions are strongest.

‘This allows us to differentiate ourselves from benchmarked funds by effectively managing the beta across the portfolio and making strategic and opportunistic decisions on income generation and alpha.’

Nick Lyster, global head of wealth advisory services at Principal GI, added: ‘We are in an ultra-low yield environment for bonds, and investors are increasingly looking to emerging markets for higher, risk-adjusted fixed income returns.  

'We believe that there are significant opportunities for a wide range of investors to benefit from exposure to an unconstrained approach to emerging market debt.’

The fund will target a mix of investors in the UK, Europe, Middle East and Asia and is available via the Principal Fund platform and will become available through major wealth platforms. 

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