The firm is to merge the London and Paris-based EM debt teams with its Asian fixed income arm, based in Hong Kong, thereby creating a global emerging markets fixed income team.
As part of this initiative, Sailesh Lad and Olga Fedotova arrive as senior portfolio manager and head of emerging market credit respectively, with Damien Buchet, head of emerging markets fixed income, due to leave the firm in September.
John Porter, Axa IM’s global head of fixed income and structured finance, said: “The creation of a global emerging markets debt team combining our teams from Hong Kong, Paris and London recognises the increasing attractiveness of this asset class and our belief that investors will continue to increase their weightings towards emerging market debt.
Axa IM is subsequently seeking a replacement for Buchet – who departs in order to “pursue another opportunity” – and confirmed that it will be announcing further hires in the coming months as it extends its reach into the emerging market debt space.
Jim Veneau, Axa IM’s head of Asian fixed income, and Chris Iggo, CIO of fixed income, will lead the newly-formed GEM team until Buchet’s replacement has been identified.
Subject to regulatory approval, Lad will assume responsibility for the AWF Emerging Market Short Duration and AWF Global Emerging Market Bonds vehicles, working alongside Buchet until he exits the firm.
Lad arrives from an emerging market debt fund manager berth at Ignis Asset Management, prior to which he held positions with Henderson Global Investors, Bluebay Asset Management and Moore Capital Management.
Fedotova will take up her head of EM credit role in August, bringing with her emerging market credit experience gained in positions with Unicredit, HSBC and ING Bank.
