The four – John Morton, Mark Capstick, Lewis Jones and Daniel Wood – joined on 1 October from Rexiter Capital Management where they have worked together since November 2007. At BNP Paribas they will join the existing Asian and emerging markets fixed income team alongside the dedicated emerging markets fixed income traders as part of a ten-strong team of portfolio managers.
The global emerging markets fixed income team is led by Morton and will become part of BNPP IP’s global fixed income partner, Fischer Francis Trees & Watts, based in Boston, London and Singapore.
Before joining Rexiter as chief investment officer, he was director of global credit strategy for State Street Global Advisors.
As portfolio managers, Capstick will focus on Asian investments, Jones on Latin America and Wood on Eastern European, Middle East and African investments.
The team reports to Guy Williams, Chief Investment Officer of FFTW, who commented: “The risk-adjusted returns of this asset class compare very favourably with more traditional asset classes over a long-time horizon. Today emerging markets sovereign debt offers higher yields and generally lower duration than developed markets sovereign debt, in addition to strong balance sheets, a commitment to liquidity and favourable demographics.”