Emerging markets specialist Polunin Capital Partners (PCP) has granted hedge fund manager Equinox Ca...
Emerging markets specialist Polunin Capital Partners (PCP) has granted hedge fund manager Equinox Capital Management what amounts to the exclusive rights to the distribution of its emerging markets funds.
The Developing Countries Fund tries to outperform the MSCI Emerging Markets Free Index by investing in emerging markets equities, but with the ability to move to bonds and cash according to market conditions. The Emerging Markets Active Fund is an absolute return fund and thus follows no benchmark.
PCP comprises four managers: Douglas Polunin (ex-head of emerging markets for Pictet), Julian Garel Jones (Pictet's head of Latin America), Paul Parsons (head of Asia). The final member of the team is Aditya Mahta, a EMEA senior manager from Credit Suisse.
Polunin said: 'The opportunity is that emerging markets today are more attractive than any we have experienced in 20 years. Everyone knows that the markets are cheap, but for us the real attraction lies in the fact that foreign investors have all left, leaving the markets to locals, to domestic investors.
'The outperformance this year has been driven by local investors and, with the enormous growth of private pensions, we expect locals to push these markets higher in the future. Foreign investors could become much less dominant.'
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