Jupiter has launched an emerging markets credit strategy for recent hire Alejandro Arevalo, as the fund house makes its first foray into the space.
The Jupiter Global Emerging Markets Corporate Bond fund will be solely managed by Mr Arevalo within the firm's Sicav range. It will be benchmarked against the JPMorgan CEMBI Broad Diversified Total Return index and based in a dollar currency.
Mr Arevalo joined Jupiter from Pioneer Investments last year as the firm looked to launch the new strategy and provide support to Ariel Bezalel's £3.5bn Strategic Bond fund.
Jupiter said Mr Arevalo will work closely with Mr Bezalel and emerging markets equity head Ross Teverson to select stocks for the income and capital growth strategy, holding corporate debt in global emerging markets.
Mr Arevalo said: "The emerging market debt universe is steadily expanding, particularly with regard to corporate issuance. Emerging market corporates can offer investors a wealth of attractive opportunities and a host of benefits including diversification, lower volatility and greater liquidity."
Fund charges were not disclosed.