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BNPP AM adds entrepreneur duo to thematic equities

PowerlinesBNP Paribas Asset Management (BNPP AM) has appointed a thematic equity duo who previously held the joint chief investment officer roles at specialist manager, Duet Group.

Ulrik Fugmann and Edward Lees become senior portfolio managers and oversee a BNPP AM sustainability-themed long-short strategy that focuses on companies operating in the energy, materials, agriculture and industrial sectors globally.

The pair became co-CIO’s at Duet Group after selling their business, North Shore Partners, to the firm.

Fugmann and Lees founded North Shore in 2012 as a thematic boutique asset manager. It had offices in London and Shanghai.

At Duet they also managed a natural resources fund.

Prior to their business venture, Lees had worked at Morgan Stanley investment bank, including in private equity, while Fugmann had spent ten years at Goldman Sachs, including heading a thematic investment group.

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