Edinburgh, UK-based asset manager Martin Currie is to launch a global emerging markets fund on December 15th, its latest move in the ongoing reorganisation of its business around key themes.
Since then Martin Currie has re-evaluated its positioning in key markets, as well as its product range, staffing and expertise, resulting in some losses of both employees and redemptions as funds were re-shaped or merged.
In October 2010, the firm re-organised its global emerging markets business, adding six experienced managers lifted from a rival Scottish firm. A year later it signed a strategic alliance agreement with Singapore-based APS, a boutique specialising since 1995 in Asia-Pacific equities.
Martin Currie aims to evolve into a full joint venture to create a leading independent China ‘A’ and Greater China active equity management business. APS has a fundamental, bottom-up approach, and strong local research capabilities, with a team of 10 analysts across Shanghai, Beijing and Shenzhen, speaking between them 11 local languages and dialects.
In other recent developments, John Pickard joined from UBS Asset Management as Martin Currie’s new head of investment, while Jamie Mariani was promoted to lead Research, and highly-rated analyst Andrea Bici was hired from Schroders New York.
Martin Currie is also building its equity income fund range, given the opportunity set, choice and diversity that such strategies offer. Continental Europe provides 48 of the global top 100 yielding companies, and unlike more developed markets, there is still room for interest rate cuts to help boost growth. New global equity income and European equity income funds are on offer, the latter born out of a more general European strategy fund that has been re-focused for the changing market.