Comings And Goings At Carmignac's Equities Team

Tom Burroughes

26 February 2015

Carmignac’s emerging equity fund managers Simon Pickard and Edward Cole are leaving the firm for what the firm described as personal reasons, while announcing a couple of promotions as part of a number of changes to its line-up.

Pickard has been at the firm for more than 12 years, said. Cole has been at the firm since 2013.

Xavier Hovasse and David Park, who manage Carmignac Emerging Discovery, are promoted as fund managers of Carmignac Emergents. Xavier Hovasse will also manage the emerging equities component of Carmignac Emerging Patrimoine, while CEMP's bond component (a half of the fund's assets) continues to be managed by Charles Zerah.

Hovasse has 14 years of experience as an analyst and fund manager, initially at BNP Paribas and then Carmignac. David Park, who joined Carmignac eight years ago as an expert on Asia, became co-manager of Carmignac Emerging Discovery two and a half years ago.

Haiyan Li-Labbé, who has been an analyst specialising on China for 14 years including three years at Carmignac, continues in this role. She has also been an analyst and fund manager with Société Générale and then ADI-OFI.

Carmignac oversees more than €50 billion ($56.7 billion) of assets.