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IPE special report May 2018

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GMO wins three emerging markets mandates

EUROPE – US-based asset manager GMO says it has won three emerging markets mandates in Europe worth 104 million pounds (153 million euros).

“GMO has won three significant emerging markets segregated mandates in Europe,” GMO said in a news release. “The mandates total 104 million pounds.”

The firm said that the ABB Foundation has appointed GMO to manage a 41 million global emerging markets portfolio. LGT Capital Management has appointed the firm to run a 20 million pound global emerging markets portfolio.

Meanwhile “a significant German corporate” has hired GMO to manage a 41 million portfolio. GMO would not name the German corporate.

Alex Orus, head of European business development and client services, said: “We are also particularly pleased that clients are investing in emerging markets now because GMO believes emerging markets are currently undervalued as an asset class.”

GMO hired Orus from State Street Global Advisors at the end of 2002 to mange its newly opened Zurich operation. It has hired Jacques-Etienne Doerr from Julius Baer Asset Management as head of business development in the office.

GMO, part of Boston-based asset manager Grantham, Mayo, Van Otterloo & Co., has 27 billion dollars in assets under management.

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