New York-based Neuberger Berman has launched a short duration emerging market debt fund from its Ireland-domiciled Ucits umbrella.
The firm launched the Neuberger Berman Short Duration Emerging Market Debt Fund with assets of $21 million (€15.5 million).
It is co-managed by Nish Popat, Jennifer Gorgoll and Bart Van der Made, who are part of a global emerging market debt team that joined Neuberger in May when the asset manager, which has $227 billion of assets under management, hired 22 people for its emerging markets business, including 19 from ING Investment Management.
The three managers aim to capture gains from both sovereign and corporate debt, and use shorter dated bonds to manage volatility. They will exclusively focus on hard currency bonds and avoid the use of synthetic investment exposure.
Meanwhile, ING Investment Management has hired Marcin Adamczyk and Alia Yousuf as senior portfolio managers in its emerging market debt team, each specialising in local currency debt.
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