Alma Gramercy Emerging Markets Debt

Fund Strategy

The Strategy seeks to outperform emerging market debt (EMD) markets by applying Gramercy’s symbiotic top-down / bottom-up approach to build a blended portfolio of hard currency sovereign debt, local currency sovereign debt and hard currency corporate debt.

The EM Debt investment team led by Portfolio Managers Philip Meier and Belinda Hill, each with over 15 years’ experience managing EM debt funds and a team of experienced dedicated analysts. The two Portfolio Managers also benefit from the support of a dedicated top-down view group led by Mohamed A. El-Erian, which builds investment themes and directional market views.

Investment Manager

Gramercy Funds Management is a $7.4 billion asset management firm dedicated to emerging markets, founded in 1998 by CIO Robert Koenigsberger and chaired by Mohamed A. El-Erian. The firm is headquartered in Greenwich, CT with offices in London, Buenos Aires and Mexico City.

Key Persons

Philip Meier
Managing Director, Head of Emerging Markets Debt, Multi-Asset Portfolio Manager
Mr. Meier brings more than 19 years of investment experience to Gramercy. He is Head of EM Debt and Portfolio Manager of Gramercy’s Multi-Asset Strategies. Prior to joining Gramercy, Mr. Meier spent nearly five years at Legal & General Investment Management (LGIM) where he was a senior member of the Emerging Markets Debt Portfolio Management Team. In addition to LGIM, Mr. Meier’s emerging markets credit experience includes time with AXA Investment Managers as Senior Portfolio Manager, Emerging Markets Fixed Income, in London. He began his emerging markets credit investing career with Deutsche Asset Management in Frankfurt. Mr. Meier graduated from the European Business School in Germany and holds an MBA-equivalent (“Diplom-Kaufmann”) in Finance & Banking.

Belinda Hill
Managing Director, Emerging Markets Debt Portfolio Manager
Ms. Hill has 22 years of investment and research experience in emerging markets. She is a Co-Portfolio Manager for Gramercy’s long-only EMD strategies and a Senior Research Analyst for the firm’s alternative portfolios. Prior to joining Gramercy, Ms. Hill spent three years as an Emerging Markets Analyst at Apollo Global Management. At Apollo, she analyzed sovereign, quasi-sovereign, and corporate issuers across all sectors and was also responsible for sourcing and evaluating new strategic initiatives and private opportunities. Prior to Apollo, Ms. Hill worked at Schroders Investment Management for two years as an Emerging Markets Corporate Credit Analyst. Ms. Hill also worked at HPP, PepsiCo and Credit Suisse. Ms. Hill received her BA in Business Administration from Georgetown University where she graduated Cum Laude. Additionally, Ms. Hill is a CFA Charterholder.

Performance

The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost.

Investment Manager's Commentary