HSBC Global AM frontier markets head Brudenell exits for Ashmore

Left after nine years

HSBC Global Asset Management head of frontier markets Andrew Brudenell has left the firm to join emerging market specialist Ashmore.

Brudenell (pictured), who worked at HSBC GAM for almost nine years, was head of the firm's frontier markets equities strategy and portfolio manager for the HSBC GIF Frontier Markets fund. This fund was soft closed in March 2014 after assets spiked at $650m and they continued to grow to $850m, leading to the possibility the firm may be forced to hard close the product. However, assets have since fallen back to $298m as investors fled from emerging markets last year. MSCI upgrade causes turnover spike for frontier funds Brudenell joined Ashmore at the end of 2015 and is now workin...