The chart above, taken from Discovery, shows managers’ long-term versus short-term risk-adjusted performance compared with their peers.
Their positions are an aggregation of the performance of all the emerging market equity funds a manager has run versus their respective benchmarks.
At the top of the graph, the leader over 10 years, is Aberdeen’s Devan Kaloo.
He also runs the most money in the sector with 8% of the assets (indicated by bubble size), although his market share has decreased by a third over the past year. Kaloo’s recent performance has lagged, placing him in the bottom quartile over three years (towards the left-hand side of the chart).
Skagen’s Kristoffer Stensrud comes in second over 10 years. The Norwegian started working on the Kon-Tiki fund when it was launched in 2002 and thus has more experience than his co-managers. However, the fund and Stensrud’s performance have also lagged over three years.
Patrice Lemonnier has been running funds at Amundi for 12 years. His lengthy experience has translated into excellent long-term performance although, like Kaloo and Stensrud, this has also drifted recently.
Vontobel’s Rajiv Jain, who has the second biggest share of assets in the sector after Kaloo, has beaten his benchmarks on average over the long term.
His performance over three years also places him firmly within the top 10 of those managers with at least 10 years’ experience.
The managers with the best combination of long- and short-term performance are William Blair’s Jeff Urbina and Todd McClone. The US duo are on the verge of their 10-year anniversary co-managing emerging market funds.