Bosch de Hood will still have the support of Luis Carrillo, co-manager on the £34m investment trust who has been on the portfolio since its launch in April 2010.
She has 14 years’ experience in the region, initially as a research analyst covering consumer and industrial companies and as a portfolio manager since 2012.
Bosch de Hood will be based in New York but will ensure regular visits to Brazil and through the continued support of JPMorgan’s EM equity team, led by Richard Titherington the group expects “no material impact” to the way the fund is managed.
The trust has seen its NAV decline 32.4% on a total return basis over three years, against the benchmark’s fall of 33.3%.
Currency depreciation has been blamed for the decline in the Brazilian equity market as investors have unwound the carry trade they took on in anticipation of the Fed’s tapering of QE.
Luparia will become co-portfolio manager of the Total Emerging Markets Income Sicav and Total Emerging Markets US based mutual fund, while also supporting Titherington and Pierre-Yves Bareau.
