Pictet AM becomes latest to boost EM credit team

Pictet Asset Management has hired Alain Nsiona Defise from JP Morgan to head emerging credit within its fixed income team, as investor demand for the asset class fuels a spree in both recruitment and fund launches.

Based in London, Defise (pictured) will be responsible for building Pictet Asset Management’s emerging corporate business.

At JPMorgan, he was in charge of managing the $2bn emerging corporate franchise.

He also headed high yield investments as a senior portfolio manager at Fortis Investments. There, he also built an emerging corporate business.

His team at Pictet AM has three other members – Vincent Ferraton, Rosemary Fu and Teck Hoon Low.

Pictet AM has been investing in emerging markets equities for over 20 years, and has had an emerging debt business since the mid-2000s, and sees EM credit as a logical next step, the unit said.

It is not alone in strengthening its EM credit capabilities.

In the past two months various European groups have hired various professionals to enable extension into the developing asset class.

Yesterday, BNP Paribas Investment Partners announced the recruitment of four emerging markets fixed income professionals from Rexiter Capital Management, a subsidiary of State Street Global Advisors. The quartet are John Morton, Mark Capstick, Lewis Jones and Daniel Wood.

M&G Investments said it had appointed Matthew Russell as deputy manager on its M&G Emerging Markets Bond Fund, focusing on EM credit and working alongside lead manager Mike Riddell.

In September, Pioneer Investments launched its Emerging Markets Corporate High Yield Bond fund, the same month both AllianceBernstein and Swiss & Global launched emerging market corporate bond funds.

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