Julius Baer takes EM debt fund to UK investors

By Philip Haddon

LONDON (Citywire) - Swiss wealth management giant Julius Baer is launching its local currency emerging debt fund into the UK.

Managed by Paul McNamara and Caroline Gorman of Augustus Asset Management Limited, the fund invests in local currency-denominated emerging market bonds.

Local debt from Mexico, Columbia, Brazil and Hungary are currently among the fund's biggest holdings. But the fund's universe stretches across Latin America, Central and Eastern Europe, the Middle East, Africa and Asia.

"In recent years emerging economies have accounted for around three-quarters of global growth and there are still a wealth of opportunities to be exploited," fund manager McNamara says.

"As emerging economies continue to develop well run domestic companies will be able to profit from developments in local infrastructure, rising commodities and increased trade with overseas countries.' Since its launch in April 2000 the Julius Baer BF Local Emerging fund has returned 155 percent in dollar terms, compared to a rise in the JP Morgan ELMI+ index of 132 percent.

(c) Citywire Financial Publishers Ltd 2008.