Mirabaud Asset Management is to broaden its suite of fixed income products with the launch of a global emerging market debt fund next month.
The Mirabaud Global Emerging Market Debt fund will be managed by new recruit Daniel Moreno, who joins the company as a senior portfolio manager on 1 November. He was previously founding partner and head of emerging market fixed income at London-based bouqitue Rubrics Asset Management.
The fund will have the flexibility to invest across sovereign and corporate debt, as well as both local and hard currency issuance.
Andrew Lake, head of fixed income at Mirabaud Asset Management, will be deputy manager of the fund and he said the company will look to grow its emerging market debt team over time.
While Global Emerging Market Debt will be the flagship fund in this area, in future the range could be expanded to include both local and hard currency funds, along with a frontier markets mandate.
Citywire + rated Lake (pictured) added that Moreno’s hire will also be beneficial to the Mirabaud Global Strategic Bond fund he runs, which will be able to take the best emerging ideas as holdings.
‘The emerging market debt fund will enable us to offer the whole suite of fixed income funds and it will also help with the existing funds,’ he said.