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AA-rated manager leaves JPM Brazil trust

AA-rated manager leaves JPM Brazil trust

Citywire AA-rated Sebastian Luparia has stepped back from his position as co-manager of the JPMorgan Brazil investment trust.

Luis Carrillo, also AA rated, will remain as co-manager of the fund and will be joined by Sophie Bosch de Hood, who has 14 years’ experience in JPMorgan’s Latin American team as an analyst and portfolio manager.

‘The board thanks Mr Luparia for the contribution he has made to the company since becoming manager at the company’s launch in 2010,’ the trust said in a statement to the stockmarket.

Over the past three years JPMorgan Brazil has lost 37.7% on a net asset value basis, compared with a 35.5% decline in its benchmark MSCI Brazil 10/40 index.

Luparia (pictured) is understood to be taking on a new role within JPMorgan as co-manager on its Total Emerging Markets strategy, alongside Richard Titherington and Pierre-Yves Bareau.

Bosch de Hood also co-manages the JPMorgan Latin America Equity fund with Carrillo, which has fallen by 20.6% over the past three years, outperforming its benchmark MSCI EM Latin America Net index’s drop of 28.2%.

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Pierre-Yves Bareau
Pierre-Yves Bareau
6/19 in Bonds - Emerging Markets Global Hard Currency (Performance over 3 years) Average Total Return: 30.52%
Luis Carrillo
Luis Carrillo
15/26 in Equity - Latin America (Performance over 3 years) Average Total Return: -9.75%
Richard Titherington
Richard Titherington
114/160 in Equity - Global Emerging Markets (Performance over 3 years) Average Total Return: 8.31%
Sebastian Luparia
Sebastian Luparia
Sophie Bosch
Sophie Bosch
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