M&G appoints Russell as deputy on EM Bond Fund
M&G Investments has appointed Matthew Russell as deputy manager on the M&G Emerging Markets Bond Fund. He will work alongside lead manager Mike Riddell (pictured).
Russell will focus on emerging market credit, also providing expertise to the wider M&G Retail Fixed Interest team.
The M&G Emerging Markets Bond Fund invests mainly in debt instruments issued by emerging market borrowers including government, government agency and corporate debt.
The fund is diversified by country, by currency and by credit rating with a focus on M&G’s own macro-economic research and analysis of a country’s debts and underlying assets. Currently the Fund’s main exposure is to Mexican, Chilean, Malaysian and Columbian government debt.
Top credit holdings include Mexican petroleum company Pemex, building material producer Cemex, Russian gas giant Gazprom and Czech Republic-domiciled coal producer New World Resources. It also has short credit default swap (CDS) positions in Indonesia, Poland, Romania and South Africa.
The M&G Emerging Market Bond Fund was originally launched for UK investors in 1999, but following its registration in Europe, it is now available to investors in Austria, Denmark, Finland, France, Germany, Italy, Luxembourg, Netherlands, Norway, Spain, Sweden and Switzerland.