Barings’ emerging market rebuild continues with LatAm hire
Barings has continued to rebuild its depleted emerging market equity team by hiring a backup manager on its $596m Latin America fund.
The group has hired Enakshi Roy as Latin American equity investment manager, assisting Mike Simpson in running the Dublin-based fund.
The fund has seen several fund manager changes in the past few years, amid a wider spate of turnover on the Barings emerging markets team.
The LatAm fund was being run by Urban Larson until he was hired by F&C in 2006. Then it was taken over by Nudgem Richyal who left in 2008 to join JO Hambro Capital Management (JOHCM).
Daniel Isidori joined the group at that point and ran the vehicle until March 2010 when the group hired Roberto Lampl from ING as its head of Latin American equities. At this point, Mr Lampl and Mr Isidori co-managed the fund.
However, James Syme and Paul Wimborne left in February last year to join JOHCM, leaving Mr Lampl to take over as head of emerging markets and also take on the $1bn (£630m) Global Emerging Markets fund.
Then in April 2011 Mr Isidori moved to Threadneedle, leaving Mr Lampl as sole manager.
This led research agency S&P to publish a critical report warning that Mr Lampl had become “overstretched”.
In October last year Barings started to rebuild the team by hiring Mike Simpson from San Francisco-based Wells Capital Management, to act as lead manager of the Latin America fund.
Latest hire Ms Roy joins from Hermes Fund Managers where she was associate director for global emerging markets.
“Enakshi brings to Barings strong experience in equity analysis and stock selection. I am sure she will prove a great asset to the team as we continue to strengthen our capability in this area,” said Mr Simpson.