Carmignac equity fund managers leave for personal reasons

Two Carmignac emerging equity fund managers have left the Parisian investment firm for personal reasons as Xavier Hovasse and David Park take their place.

Portfolio Adviser

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Simon Pickard had been with the business for over 12 years, having worked for the European investment fund management team before becoming head of emerging equities. Edward Cole has left the company after two years managing the Carmignac Portfolio Emerging Patrimoine Fund.

Pickard said: “It was a difficult decision, but I have a personal project that I would like to explore, the details of which I will share at the right point in time.” He added, however, that he would be available to ensure there is a smooth transition towards the new management structure.

Hovasse and Park will be taking over, moving up the ladder from their roles as fund managers of Carmignac Emergents Fund.

Founder and chairman Edouard Carmignac said: “The emerging market funds will benefit from the continuity of the existing management process, as well as the efforts of a team that has been in place for several years and the presence of Charles Zerah, who will continue to steer CEMP’s bond component.”

Carmignac currently has €50bn assets under management and a range of funds covering all asset classes.

In September last year, the group acquired licences to trade in China listed A shares and local bonds.

To read what the member of Carmignac Gestion’s investment committee, Didier Saint-Georges, had to say about how he actively manages his flagship fund click here.

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