Veteran fund manager Claudia Calich is to retire after more than 30 years in the industry, predominantly investing in emerging market debt.
She established M&G’s emerging market (EM) debt capability when she joined the asset management firm in 2013 and the platform has since grown to $5bn.
Calich said: “During my three decades in the City and Wall Street, the EM debt universe has undergone profound transformation, evolving from a niche, distressed asset class into a dynamic and diverse segment of fixed income.”
M&G has appointed Charles de Quinsonas to replace her as head of emerging markets debt.
De Quinsonas has more than 15 years of emerging market debt experience, with a long track record of managing a variety of blended, sovereign and corporate bond funds.
In addition, his background in fundamental credit analysis is expected to help him identify opportunities and risks across complex, less efficient markets – especially in the high-yield segment of EM corporate debt.
He acknowledged the increasingly volatile landscape dominated by geopolitics, arguing that emerging market debt “offers a beacon of opportunity for investors seeking diversification and yield”.
M&G has also appointed Carlos Carranza as a senior emerging market debt fund manager focused on local and hard currency sovereign debt strategies. He will join the firm from Allianz Global Investors in October.