Nikko AM unveils EM local currency bond fund

Managed by Raphael Marechal

Nikko Asset Management has announced the launch of the Emerging Markets Local Currency Bond UCITS fund.

The fund, which will be headed up by Raphael Marechal, head portfolio manager at Nikko, will aim to achieve a return of more than 1.5% against the JP Morgan GBI-EM Global Diversified Index. Nikko AM poaches global head of sales from Tokio Marine Investing in a global emerging market portfolio of 30 to 50 bonds, the fund will take advantage of mis-pricing in emerging markets in a historically low yield environment. Marechal said: "The low yield environment worldwide means investors have to be more active in their fixed income portfolio allocation. "The growth gap in emerging mark...