The funds will be managed by the newly-installed, 23-strong emerging market debt team which joined the firm earlier in the year. Most of the new joiners, 19, transitioned from ING.
The Neuberger Berman Emerging Market Debt – Hard Currency Fund is managed by portfolio manager Bart van der Made and invests in emerging market bonds issued in hard currency using top-down and bottom up strategy.
Raoul Luttik is to manage the Neuberger Berman Emerging Market Debt – Local Currency Fund, which will invest in emerging market local currency bonds which seek to benefit from high and/or declining local interest rates and the potential for currency appreciation.
The Neuberger Berman Emerging Market Debt Corporate Debt Fund is managed by Nish Popat and Jennifer Gorgoll. The pair will seek opportunities predominantly in hard currency corporate debt, although they will have the ability to invest in local currency equivalents.
Dik van Lomwel, head of Neuberger Berman EMEA and Latin America said: “Adding the emerging market debt team to Neuberger Berman was a key strategic initiative as it enables us to offer our investors complete fixed income solutions. The launch of the three Ucits funds marks an important first step in building a comprehensive suite of emerging market debt strategies.”
Last week Standard Life launched its second EMD fund, which is open to both institutional and retail investors.