3. Daniel Moreno, Rubrics*
Fund managed: Rubrics Emerging Markets Fixed Income UCITS H CHF
Total return over three years: 5.5%
Citywire A-rated Daniel Moreno is among the sector leaders for his outperformance on the Rubrics EM fixed income fund over three years to the end of October 2017.
Moreno first started managing the Rubrics fund in 2014, taking over the management from Alia Yousuf.
According to the fund's October fact sheet, the key contributors to monthly performance were Argentina's sovereign debt and banks.
‘The sovereign, certain banks and state-owned entities were upgraded one notch this month by S&P, with the ratings agency citing Macri’s plans for economic reform as a key reason.’
Overall, 29.5% of the portfolio is in local currency, while 55.6% is in hard currency.
Of the non-USD foreign exchange exposure, 3% is in the Russian ruble, 2.1% is in the Brazilian real and 1.7% is in each the Argentinian peso and the Uruguayan peso.
* In November 2017, Moreno left Rubrics and joined Mirabaud Asset Management to oversee the Mirabaud - Global Emerging Market Bond fund.
Taking over the management of the Rubrics Emerging Markets Fixed Income UCITS fund is Citywire A-rated Steven O'Hanlon.