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Who are the new kids on the emerging market block?

by James Phillipps on Dec 28, 2012 at 07:00

‘We have found that Aberdeen and First State get the millions and the others get the Isa money,’ says Calder. ‘There is not much choice in the sector and a lot of our clients are cautious and only allocate a small amount to emerging markets, so often only hold one fund.

‘One fund we do like is Charlemagne Emerging Markets Dividend. Charlemagne is an emerging markets specialist – that is all it does – and the fund has a chunky yield in excess of 5%, which is attractive to clients.

‘We like it as a manager; its research is very thorough and it has a lot of access to the region.’

Tony Yousefian, chief investment officer, OPM Fund Management on M&G Global Emerging Markets and Fidelity Institutional Emerging Markets

M&G three-year total return to end Oct: 20.5% Fidelity three-year total return to end Oct: 20.5%

M&G three-year sector average: 16.5% Fidelity three-yearsector average: 16.5%

Matthew Vaight took over as lead manager of the M&G Global Emerging Markets fund in September after his then co-manager Michael Godfrey left the firm.

‘He has done an extremely good job on the fund on a risk-adjusted returns basis and the fund has a nice information ratio,’ says Yousefian. ‘It generally has a beta of less than one.

‘The Fidelity Institutional Emerging Markets fund, run by Nick Price, is effectively style agnostic and has a beta of less than one. It has done well on a risk-adjusted returns basis and the volatility is in the middle of the pack.’

Yousefian adds that although Price runs the fund out of London, he travels extensively, visiting companies around the world.

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