The boutique investment management company has been preparing to launch a fund investing in global emerging market equities. The JOHCM global emerging markets fund will be the first pure emerging markets fund for the group. So far, JOHCM offers investors exposure to emerging markets only through its global select fund.
Gavin Rochussen, the group chief executive of JOHCM, says adding significant emerging markets experience has been a goal for some time because of the increasing role emerging markets are playing in investors’ asset allocation decisions. Rochussen says his newly recruited managers both have “a wealth of experience” in the industry and especially in global emerging markets.
Brewer previously managed the Driehaus Capital Management emerging markets growth fund. The £378m fund returned 3.32 per cent in the three years to December 31, 2009, compared with a return from the MSCI Emerging Market Growth index of 2.29 per cent.
Brewer has more than 20 years of investment industry experience, of which he spent 15 years specifically investing in emerging markets.
St. Kovachev spent 10 years working at Driehaus Capital Management, during which he co-managed the $365m Driehaus International discovery fund. He also supported Brewer in the management of the Driehaus emerging markets growth fund.
The Driehaus International Discovery fund dipped 3.9 per cent over three years, compared to a fall of 2.65 per cent in the MSCI AC World ex USA growth index.
In addition, St. Kovachev held the role of lead manager on the Driehaus European opportunities fund.
Driehaus Capital Management, a Chicago-based investment adviser, is an “aggressive growth” equity investment boutique. It believes earnings growth is the principle factor in determining share prices over time and investing in fast-growing companies delivers higher returns.
JOHCM has followed a measured growth strategy, capping funds at a certain size. It recently broadened its UK equity fund range with the launch of the JOHCM UK Dynamic Fund, managed by Alex Savvides. Before that, its last fund launch was the Global Select fund in September 2008.