Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Aberdeen's Kaloo and Diment take charge of two Credit Suisse funds

Aberdeen's Kaloo and Diment take charge of two Credit Suisse funds

Aberdeen Asset Management is to take charge of two Credit Suisse Brazil funds.

The vehicles, the US$94 million Credit Suisse Equity Brazil fund and the US$153 million Credit Suisse Bond Brazil- will be merged into Aberdeen's Luxembourg-Domiciled Aberdeen Global Sicav range in June.  The funds will become known as the Aberdeen Global - Brazil Equity fund and the Aberdeen Global - Brazil Bond fund.

The Brazil equity strategy will be managed Aberdeen's global emerging market team, which is led byDevan Kaloo, the asset manager's head of global emerging markets.  Brett Diment's emerging market debt team will manage the Brazil bond fund.

With Brazil being the worst performing market of 2011, there has been a lot of talk about whether the party is over for the country once regarded as Latin America's investment hotspot.

But Kaloo believes there are still plenty of opportunities to capitalise on in Brazil, namely  domestic consumption as Brazilians' prosperity grows.

Kaloo (pictured) explained: 'While Brazil has certainly blossomed due to being the world’s leading supplier of commodities, it would be wrong to view the region purely as a play on the world’s thirst for raw materials. Of more interest to Aberdeen is the rise of domestic consumption. Growing, youthful populations with burgeoning workforces are enhancing earning and spending power in the country, and this in turn is driving domestic growth.'

Diment said that from a fixed income perspective, yields in Latin America remain attractive.

'From a fixed income perspective, Latin American economies and in particular Brazil have weathered the global financial crisis well and are not burdened by the huge debt levels and imbalances of their so-called developed world peers. Yet the yields available in the fixed income market remain at a premium to those offered by fundamentally weaker G-7 nation bonds,' Diment, head of Aberdeen's emerging market bond team, sid.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.

Related Fund Managers

Devan Kaloo
Devan Kaloo
59/85 in Equity - Global Emerging Markets (Performance over 3 years) Average Total Return: -9.22%
Citywire TV
Play Dispelling the sustainable investing myths

Dispelling the sustainable investing myths

There's a bit of a buzz around sustainable investing at the moment. We speak to three wealth managers to find out what they think.

Play Inside ETFs: positioning for the Fed rate rise

Inside ETFs: positioning for the Fed rate rise

Natalie Fast discusses how investors are using ETFs to position for a rate rise with guests Irene Bauer from Twenty20  Investments and Markit's Simon Colvin.

Play Wealth Manager Retreat: video highlights

Wealth Manager Retreat: video highlights

The UK's leading wealth management talent gathered at our annual event at the Grove celebrate the best in private client portfolio management.

Wealth Manager on Twitter