Oddo to launch EMD unit in Singapore

Oddo Asset Management is launching an emerging market debt (EMD) unit in its recently opened Singapore office and plans to launch two EMD funds later this year, Citywire Global can reveal.

The Paris-based firm, which runs €12.4 billion, has hired a senior bond manager based in Asia as part of its plans to create an emerging market debt team in the region, its first fund management unit outside of France.

The new manager, who has not yet been named, will join the French firm's Singapore office in February and work alongside its recently appointed Singapore CIO, Roy Diao.

Speaking exclusively to Citywire Global, Oddo AM's head of international business Bertrand Levavasseur said the Singapore office is currently awaiting regulatory approval for its asset management unit.

He said they are planning to launch two EMD funds in the second half of 2013, an Asia-focused emerging market debt fund and a global emerging market debt fund.

'The heart of our future international projects are in Asia,' said Levavasseur.

Following its joint venture with Chinese broker firm Guosen in April 2012, the French firm aims to continue its expansion plans in Asia with the launch of RMB bond fund.

The new short credit renminbi fund will be managed and distributed by Oddo and Guosen will act as advisors.

The French group is also launching a new European high yield fund in the next few weeks. It will be managed by its recently appointed head of fixed income, Alain Krief, who joined Oddo AM from rivals BNP Paribas in September last year.