UK-based fixed income asset manager Colchester Global Investors is making a move to bolster its presence in Latin America and has hired a local fund specialist to help grow its business.
The $40bn bond boutique has hired Montevideo-based Analia Giachino as a product specialist where she has been charged with developing and implementing the firm’s distribution strategy to institutions and financial intermediaries in Latin America.
Giachino is Colchester’s first hire in Latin America and marks its decision to move beyond the region’s institutional community and target local wealth managers and advisors.
Giachino, who was previously at EFG International and before that was head of investment advisory and research at Puente in Uruguay, will work alongside Constance de Wavrin who covers the Andean region from the group’s office in London.
Colchester focuses exclusively on global sovereign bonds and currencies and the asset manager currently offers four Ucits strategies: the $25.4bn Colchester Global Bond, $11bn Colchester EM Local Debt, $3.8bn Colchester Global Inflation-Linked, and the $890m Colchester Alpha Program funds.
All four funds will be made available to investors in select Latin American countries. The group’s regional coverage now includes institutional investors in the Andean markets and Mexico as well as advisors and wealth managers in the Southern Cone.
The group’s move into Latin America is a long-term play and aims to tap the region’s strong demand for diversified fixed income products.
‘We believe the market in LatAm is ripe for specialized managers as over the past few years we have seen an increase in portfolio sophistication across the region,’ a company spokesperson told Citywire Americas. ‘Over the next 1-3 years we want to cement our presence in the region. Our assets under management are well diversified between North America, Europe and Asia; Latin America will hopefully add to our success in Asia, Australia and the Middle East.’
Latin America is first in their sights but the group is not ruling out making a move into the US offshore market in the near future.
The US offshore market is a natural extension of the LatAm strategy. Most financial advisors and wealth managers in the region have strong ties with the US and hubs such as Miami and San Diego,’ said the spokesperson.