Mirabaud’s Emerging Market 2024 Fixed Maturity strategy has been launched with USD 90 million of assets under management. The fund aims to capture the attractive yields currently offered by Emerging Markets issuers with a profile close to a single bond and the diversification offered by a portfolio of debt instruments. Such a strategy provides exposure to hard currency emerging market fixed income with a 2024 finite horizon. It takes a buy and hold approach across corporate, sovereign and quasi-sovereign debt, accessing some of the best opportunities with the highest risk/reward across emerging markets globally.
This new vehicle is managed by Daniel Moreno (Head of Emerging Markets Fixed Income) and Puneet Singh (Senior Fixed Income Portfolio Manager). Daniel and Puneet have extensive experience in emerging markets fixed income investing and currently manage the Global Emerging Market Bond Strategy, implementing dynamic decisions across sub asset classes and currencies, at different times in the economic cycle.
Daniel Moreno, Head of Emerging Markets Fixed Income at Mirabaud Asset Management comments: “We are delighted to provide investors with another dynamic investment capability to meet their evolving needs. A Fixed Maturity fund is particularly relevant in an environment where diminishing liquidity in the hard currency market is gradually becoming a significant challenge and a major driver for valuations. By investing in Emerging Market Debt to maturity, investors can extract a high degree of visibility within a specified horizon whilst reducing market-to-market sensitivity, both of which translate into higher risk-adjusted returns.”
Biographies
Daniel Moreno, Head of Emerging Market Fixed Income at Mirabaud Asset Management, manages the Global Emerging Market Bond as well as the Emerging Market 2024 Fixed Maturity strategies. Mr Moreno started his career at Dresdner Kleinwort Benson in Frankfurt as a fixed income and currency strategist, before moving to Deutsche Bank in 2000 as portfolio manager. He has experience in emerging market debt investment since 1997. Prior to joining Mirabaud Asset Management in November 2017, Mr Moreno was Head of Emerging Market Debt at Rubrics Asset Management. He has held senior portfolio manager positions at Union Investment in Frankfurt as well as Global Evolution and Sydbank in Denmark where in 2011, he was part of the spin-off of the senior Emerging Market debt team into a newly created business called Emerging Market Quest. Mr Moreno holds a European Masters degree in Management, a Business Administration degree, and attended the INSEAD Executive Programme.
Puneet Singh, joined Mirabaud Asset Management as Portfolio Manager within the Emerging Market Debt team. Prior to joining Mirabaud Asset Management in October 2018, Mr Singh was a Portfolio Manager at Blackrock since 2016, covering Emerging Market Debt within Global Fixed Income Funds. Previously, Mr Singh spent three years at Citigroup, where he worked in the Emerging Markets Credit Trading and Structuring team responsible for structuring, executing and risk managing EM structured transactions. Mr. Singh holds a Bachelor's degree with first class honours from Oxford Brookes University in Applied Accountancy. He also holds an MBA degree from INSEAD business school, and is a CFA Charterholder.