The team, led by Thede Ruest, manages strategies such as the £901m Emerging Stars Bond fund and the Emerging Market Bond fund, which holds £419m in assets as of 31 December.
Amundi’s Elmgreen returns to Nordea AM in fixed income and equities CIO role
“Nordea Asset Management’s emerging market debt strategies have throughout many years achieved solid long-term investment performance through in-house management,” a spokesperson at the firm said.
“Despite a long-term perspective and the launch of our first in-house EMD strategy more than a decade ago, broader market factors have resulted in sub-par commercial results.”
The firm added it remains “committed” to the EMD asset class and is keen to continue to offer its clients access to a “strong” EMD value proposition.
Nordea AM rebrands diversity fund in engagement push
In August 2023, Nordea AM welcomed back Kasper Elmgreen as its new chief investment officer for fixed income and equities, returning after almost five years at Amundi.
He previously worked at Nordea as its head of fundamental equities between 2014 and 2018 and was the lead portfolio manager on its European equities offering.
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