Man GLG, the discretionary investment management business of Man Group plc, is launching a UK-domiciled version of its unconstrained emerging equity fund.
Available from 2 November, the fund – run by co-portfolio managers Simon Pickard and Edward Cole, who joined Man GLG from Carmignac Gestion in May 2015 – focuses on long-term opportunities with a view to generating attractive returns above the MSCI Emerging Markets Free Index.
The long-only fund originally launched in September via a Dublin-domiciled UCITS fund. Man GLG has now moved to make the fund more readily available to a wider range of investors by launching a London-based OEIC which mirrors the existing fund.
Managers Pickard and Cole seek to blend value, quality, momentum and macro styles to create an actively managed and diversified portfolio of emerging market securities which they believe are mispriced on a long-term cash flow-derived valuation basis. The fund typically holds 50 stocks from a universe of around 300 which conform to the managers’ screening process.
Pickard and Cole have extensive experience of investing in emerging market securities. Pickard was formerly head of emerging market equities at Carmignac Gestion, running its large and mid-cap global emerging markets strategies for the last six years. In total, he has worked in finance across EMEA and the Emerging Markets for over 18 years, also having held positions at Jupiter Asset Management and Argos Investment Managers.
Cole was formerly a portfolio manager at Carmignac Gestion, co-managing its emerging market multi-strategy portfolio. He has 14 years of experience in financial markets and has previously worked as a co-manager for emerging markets strategies at Ashmore Group and Finisterre Capital. Prior to this he spent seven years as a sell-side equity strategist at both JP Morgan Securities and Unicredit.
Richard Phillips, Head of UK Retail at Man GLG, said: “We are committed to making our key strategies available to investors in the formats and domiciles they favour. Following the launch of the Dublin-based unconstrained emerging equity strategy in September, we are pleased to launch a mirror fund in the UK, allowing investors to access the performance and experience of Simon and Edward in a London-domiciled fund.”