Carmignac has appointed Naomi Waistell (pictured) as emerging market portfolio manager, where she will co-manage the Article 9 Carmignac EM strategy as portfolio manager Haiyan Li-Labbé departs the firm.
Waistell brings 15 years of portfolio management experience to the role. Most recently, she was with Polar Capital where she co-managed the quality-growth EM fund, which grew from €167m to €1.5bn during her tenure.
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“Carmignac has a great reputation in emerging market investing, having been an early pioneer of the asset class and I look forward to joining its industry-leading team. 2025 is set to be an exciting but volatile year, with the repercussions of monetary policy normalisation in emerging markets and a second mandate for Donald Trump.
“I am more convinced than ever that an active approach, with a clear consistent process that focuses on deep company analysis and cuts through noise, is the optimum way to identify emerging market investment opportunities and avoid potential pitfalls.”
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Li-Labbé leaves the firm to pursue a career “outside portfolio management”, according to Carmignac. She spent over 13 years with Carmignac, joining the company in 2011.
The Article 9 Carmignac EM strategy was managed by Li-Labbé alongside Xavier Hovasse, who will remain with the fund. In the past five years, it has returned 35.36%, compared to a sector average 12.78%.
