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AWARDS 2023
Portfolio Manager & Group
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Fresh fears about inflation and interest rates continue to buffet stock and bond market sentiment globally. The penultimate week of February saw global shares hover near their lowest levels in more than a month. A day before on 21 February, US markets recorded their worst day in two months on rate rise worries. S&P 500 dipped 2% to below 4,000, while the 10-year Treasury yield rose above 3.96% and the 2-year yield breached 4.725% as investors reassessed how higher and longer the hawkish Fed could get. Risks abound in the world. From geopolitical tensions to inflation and a recession that could become stronger than currently expected. According to the International Monetary Fund (IMF), global growth is projected to fall from an estimated 3.4% in 2022 to 2.9% in 2023, then rise to 3.1% in 2024. The rise in central bank rates to fight inflation and Russia’s war in Ukraine continue to weigh on economic activity. The rapid spread of Covid-19 in China dampened growth in 2022, but the recent reopening has paved the way for a faster-than-expected recovery. The IMF expects global inflation to fall from 8.8% in 2022 to 6.6% in 2023 and 4.3% in 2024, still above pre-pandemic (2017–19) levels of about 3.5%. The balance of risks remains tilted to the downside, but adverse risks have moderated since the October 2022 World Economic Outlook. On the upside, a stronger boost from pent-up demand in numerous economies or a faster fall in inflation is plausible. On the downside, severe health outcomes in China could hold back the recovery, Russia’s war in Ukraine could escalate, and tighter global financing costs could worsen debt distress. Financial markets could also suddenly reprice in response to adverse inflation news, while further geopolitical fragmentation could hamper economic progress. Given this backdrop, the timing of the Citywire Middle East Fund Manager and Group Awards couldn’t have been better, as the awards aim to recognise the top portfolio managers and groups in their respective categories. We wish all the best to the nominees and congratulate the winners of this year’s awards.
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Sunil Singh Editor, Citywire Middle East
Name Company
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Every portfolio manager who has managed money for three years or more counts towards the Citywire Portfolio Group Rating in every sector they are eligible for.
MANAGER EXPERIENCE
The analysis period covers seven years. Within this timeframe, the average of the manager’s rolling three years risk-adjusted performance in the sector is calculated. This is weighted based on the period of activity during the timeframe. The more we know about the managers the better, meaning consistency of outperformance and experience are rewarded.
THE LONGER THE BETTER
Managers must add value above their benchmark over this time period. How much they outperform gives them a manager score.
OUTPERFORMANCE
Managers are attributed a small bonus for managing considerable assets in a sector.
HANDLING MONEY
All managers in the portfolio group active in that sector who fulfil the criteria have their scores averaged to produce a group score.
SCORING THE GROUP
To win an award, groups must go through the Citywire Group Ratings methodology, which puts them against the best talent in an investment sector. The winner is the top portfolio group available to investors in a GCC country. How does it work? Citywire Group Ratings recognise the expertise of the group as a whole in managing money in specific investment sectors over seven years. This rewards the depth of talent that sits at the core of the best asset management houses. For these awards, the time period used is January 2015 – December 2022. We filter to include only the group’s strategies that are registered for sale in a GCC country. This provides the best platform to reward the best groups in this market. Our unique, quant-based methodology ensures fair and transparent scrutiny of the capabilities of each portfolio group, and allows for comparison between boutiques and global giants.
Best Portfolio Manager Awards go to the individual portfolio manager generating the highest risk-adjusted returns in a particular sector over the three years to the end of December 2022 in a GCC country. These are based on the individual track records for all funds they have run in the sector over this period. Our ratings methodologies are actuarially approved by AKG Actuaries & Consultants.
I. Citywire Best Portfolio Manager methodology
II. Citywire Best Group Awards methodology
The key components of the methodology are:
Methodology
Yerlan Syzdykov Amundi Eric Fang Eastspring Alejandro Arevalo Jupiter Javier Romo, Pramol Dhawan & Yacov Arnopolin PIMCO Arthur Duchon-Doris, Christopher Watson & Damien Buchet Principal Global Investors
Javier Romo, Pramol Dhawan & Yacov Arnopolin PIMCO
Emerging Markets Global Hard Currency
Bonds
Javier Romo is an executive vice-president and emerging markets portfolio manager in the Newport Beach office. He is a founding member of PIMCO Juntos and serves on the steering committee. Pramol Dhawan is a managing director and portfolio manager in the New York office and leads the emerging markets portfolio management team. Prior to joining PIMCO in 2013, he was a managing director and head of emerging markets trading at Société Générale in New York.
XX
PIMCO
Amundi Jupiter Pictet PIMCO Principal Global Investors
Yacov Arnopolin is an executive vice-president and portfolio manager in Pimco's New York office. He is co-chair of the emerging markets portfolio committee. Before joining in 2016, Arnopolin was a managing director overseeing emerging market fixed income portfolios at Goldman Sachs Asset Management.
Julian Le Beron Allianz Global Investors Ian Sims & Keith Lloyd Colchester Global Investors Matthieu Loriferne, Michael Bogecho & Philippe Bodereau PIMCO Andrew Balls, Lorenzo Pagani & Sachin Gupta PIMCO Doug Bitcon Rasmala Investment Bank
Julian Le Beron is CIO core fixed income - global fixed income portfolio manager for multi-sector and absolute return funds, with a proven track record of working in the investment management industry and generating risk-adjusted returns. He is responsible for managing three fixed income investment teams, namely, global markets, European and macro unconstrained. He is Bachelor of Science (BSc) focused in Management and Economics from The London School of Economics and Political Science (LSE).
Julian Le Beron Allianz Global Investors
Global
Allianz Global Investors
Allianz Global Investors Colchester Global Investors J.P. Morgan Asset Management PIMCO Schroders
Julian Le Beron Allianz Global Investors Ian Sims & Keith Lloyd Colchester Global Investors Calvin Ho & Michael Hasenstab Franklin Templeton Matthieu Loriferne, Michael Bogecho & Philippe Bodereau PIMCO Andrew Balls, Lorenzo Pagani & Sachin Gupta PIMCO
Anujeet Sareen is a portfolio manager for Brandywine Global’s Global Fixed Income and related strategies. Before joining Brandywine Global in 2016, he was a managing director of global fixed income and a global macro strategist, as well as chair of the currency strategy group at Wellington Management in Boston.
Originally from Jeffersonville, Indiana, Jack McIntyre graduated from the University of Massachusetts, the New York University and Stern Graduate Business School and holds an MBA in Finance and International Business. A CFA Charterholder, he currently manages global long-only and absolute return bond funds at Legg Mason.
Brian Kloss is a portfolio manager on the Brandywine global fixed income team. Previously, he worked at Dreman Value Management, Gartmore Global Investments, Penn Capital Management, The Concord Advisory Group and Deloitte.
Tracy Chen is a portfolio manager and the head of structured credit at Brandywine Global, where she has worked since 2008. Prior to joining the firm, she worked at UBS Investment Bank as the director of structured products, GMAC Mortgage Group and Deloitte Consulting.
Global Flexible
Anujeet Sareen, Brian Kloss, Jack P. McIntyre & Tracy Chen Franklin Templeton Investments
Anujeet Sareen, Brian Kloss, Jack P. McIntyre & Tracy Chen Franklin Templeton Investments Andrew Headley & Andrew Norelli J.P. Morgan Asset Management Richard Hodges Nomura Asset Management Alfred T. Murata & Daniel Ivascyn PIMCO Joshua Anderson Principal Global Investors
Franklin Templeton Investments
Fidelity International Franklin Templeton Investments Jupiter Nomura Asset Management PIMCO
Robert Magnuson Goldman Sachs Asset Management Michael Scott Man Group Andrew Jessop, David Forgash & Sonali Pier PIMCO David Kim, Jeff Stroll & Schuyler Hewes Principal Global Investors Bram Ten Kate & Philippe Gräub Union Bancaire Privée
Michael Scott is a lead portfolio manager at Man GLG and has more than 13 years of investment experience. He began his career at Cazenove Capital Management in 2005 before moving to Schroders in 2006. He initially spent four years as European industrials credit analyst, covering investment grade and high yield. He then went on to become the lead high yield portfolio manager. He graduated from the University of Oxford and is a CFA Charterholder.
Michael Scott Man Group
Global High Yield
Man Group
Goldman Sachs Asset Management Man Group PIMCO Schroders Union Bancaire Privée
Gershon M. Distenfeld & Matthew Sheridan AllianceBernstein Rick Patel Fidelity International Andrés Sánchez Balcázar Pictet Mark Kiesel & Mohit Mittal PIMCO Fernando Grisales Schroders
Rick Patel is a fixed income portfolio manager in Fidelity’s London office. He specialises in global and regional fixed income products, and was a quantitative analyst and key member within the fixed income team for five years prior to moving into an associated portfolio manager role in 2005. After two years, he was promoted to portfolio manager and runs the Fidelity US Dollar Bond Fund.
Rick Patel Fidelity International
U Dollar
Fidelity International
AllianceBernstein Fidelity International Pictet PIMCO Schroders
S
Dhananjay Phadnis Fidelity International Sanjiv Duggal HSBC Global Asset Management Vandana Luthra HSBC Global Asset Management Lee King Fuei Schroders Toby Hudson Schroders
Dhananjay Phadnis has over 19 years of investment experience in Asia. He joined Fidelity’s India office in 2004 as an investment analyst and was later transferred to Hong Kong. He was promoted to Director of Research in 2009 and became a Portfolio Manager in 2011. Dhananjay holds a Bachelor of Commerce degree from Pune University in India and a post graduate diploma in Management (Finance MBA equivalent) from Indian Institute of Management, Bangalore. He is also a Chartered Accountant and a CFA Charterholder.
Dhananjay Phadnis Fidelity International
Asia Pacific (excluding Japan)
Equity
J.P. Morgan Asset Management
BlackRock Fidelity International HSBC Global Asset Management J.P. Morgan Asset Management Schroders
Christina Chung Allianz Global Investors Jing Ning Fidelity International Howard Wang & Rebecca Jiang J.P. Morgan Asset Management Louisa Lo Schroders Jack Lee Schroders
Christina Chung graduated from Brock University in Canada and went on to gain an MA in economics from the University of Alberta. She started her career as an economist with HSBC Asset Management and went on to join Search International. Christina later worked with the Royal Bank of Canada before joining Allianz in 1998, where she is currently responsible for managing China equity funds. She has over 20 years' experience in managing regional and single country portfolios and is a CFA Charterholder as well as a Certified Management Accountant in Canada.
Christina Chung Allianz Global Investors
China
Allianz Global Investors BNP Paribas Asset Management HSBC Global Asset Management J.P. Morgan Asset Management Schroders
Andrew Arbuthnott & Mary Mannion Amundi Brian Hall BlackRock Stefan Gries BlackRock Katrina Dudley, Mandana Hormozi & Todd Ostrow Franklin Templeton Investments Len Ioffe, Osman Ali & Takashi Suwabe Goldman Sachs Asset Management
Hailing from Calgary in Canada, Brian Hall has been running European equity funds at BlackRock since August 2007. Brian runs all cap funds with a value strategy. Prior to joining BlackRock Brian worked for Lehman Brothers for nearly eight years. Now based in London, he is a CFA Charterholder and away fund management he enjoys rugby, music and skiing among other interests.
Brian Hall BlackRock
Europe
AllianceBernstein
AllianceBernstein Allianz Global Investors BlackRock Fidelity International Goldman Sachs Asset Management
Faisal Al-Rayes is Jadwa's Head of Asset Management, Chief Investment Officer, and a member of the Executive Management Committee. He oversees the firm's funds and portfolios across public equity, fixed income, money market and multi-asset offerings. Prior to joining Jadwa in 2010, Faisal was a Research Analyst at Gabelli Asset Management and an Investment Analyst at the General Organization for Social Insurance (GOSI). Faisal is a CFA charter holder with an MS degree in investment management from Cass Business School (UK) and a bachelor's degree in business administration from University of Oregon (USA). Bilal Sabbah is Vice President Portfolio Manager at Jadwa Investment since October 2019. He did his Master of Business Administration (MBA) from Concordia University and is a CFA Charterholder.
Faisal Al-Rayes, Bilal Sabbah & Syed Talal Mehdi Jadwa Investment
Faisal Al-Rayes, Bilal Sabbah & Syed Talal Mehdi Jadwa Investment Musa S M Haddad & Rameshwar Tiwary First Abu Dhabi Bank Asset Management Shadi Khadder NBK Capital Rajat Bagchi NBK Capital Ahmad Bamokhayyar Saudi National Bank
GCC
Syed Talal Mehdi is Vice President, Portfolio Management at Jadwa Investment since April 2010, as per his LinkedIn profile. He did MBA from the Institute of Business Administration and is a CFA Charterholder.
Jadwa Investment
First Abu Dhabi Bank Asset Management Jadwa Investment NBK Capital Saudi National Bank
Gunnar Miller Allianz Global Investors Daniel Roarty AllianceBernstein Andreas Fruschki Allianz Global Investors Sebastien Mallet T. Rowe Price Fares Benouari & Martin Moeller Union Bancaire Privée
Gunnar Miller is the global director of research at Allianz Global Investors, where he co-manages the Allianz Thematica fund. He joined the firm in 2003 and has served as its global head of equity research, Europe head of equity research and sector team head/research analyst for European technology. Before joining Allianz, he spent five years as an analyst covering semiconductors for Goldman Sachs. He previously worked at Paine Webber and Kidder Peabody. He has a degree in economics from Lehigh University.
Gunnar Miller Allianz Global Investors
Allianz Global Investors CPR Asset Management Fundsmith LLP T. Rowe Price Wellington Management
Guojia Zhang, Laurent Saltiel & Sergey Davalchenko AllianceBernstein Dennis Walsh, Len Ioffe & Osman Ali Goldman Sachs Asset Management Ian Beattie NS Partners Emmanuel Hauptmann RAM Active Investments SA Robert Davy Schroders
Emmanuel Hauptmann co-manages RAM Systematic Equity investment strategies. He develops and implements systematic fundamental and technical strategies which originate from the team proprietary research on alpha, liquidity and risk factors. Before joining RAM in 2007, he worked in London as Senior Quantitative Analyst for Citigroup and built their Execution Analytics models in Europe as Director in their Alternative Execution department. Previously he worked as Quantitative Derivative strategist within Morgan Stanley Quantitative and Derivative Strategies in London. Hauptmann earned a MSc in Finance & Economics with distinction at the London School of Economics after graduating from Ecole Centrale Paris in Engineering and Paris I – Sorbonne in Economics.
Emmanuel Hauptmann RAM Active Investments SA
Global Emerging Markets
Schroders
BlackRock Fidelity International Franklin Templeton Investments Nedgroup Investments Schroders
Atul Penkar Aditya Birla Sun Life Asset Management Company Hiren Dasani Goldman Sachs Asset Management Nilang Mehta & Sanjiv Duggal HSBC Global Asset Management Sulabh Jhajharia Nippon Life India Asset Management Ajay Tyagi UTI
Sulabh Jhajharia is the manager of the Ucits Equity Portfolio fund at Nippon Life India Asset Management (Singapore). He has worked at the organization since its inception. He has previously worked at Citibank and Infosys Technologies. Jhajharia has an MBA in finance from NUS Business School, Singapore and a degree in computer engineering from IP University, Delhi. He is a CFA charterholder and holds the CFA Institute’s certificate in ESG investing.
Sulabh Jhajharia Nippon Life India Asset Management
India
UTI
Aditya Birla Sun Life Asset Management Company Fidelity International Goldman Sachs Asset Management Nippon Life India Asset Management UTI
Heinz Tschabold & Werner Richli Credit Suisse Asset Management Charles Hamieh, Daniel Chu, Nick Langley & Shane Hurst Franklin Templeton Investments Bertrand Cliquet, John Mulquiney, Matt Landy & Warryn Robertson Lazard Asset Management
Bertrand Cliquet is a Portfolio Manager/ Analyst on the Lazard Global Listed Infrastructure and Global Equity Franchise teams. Prior to joining Lazard, Bertrand was a utility analyst at Goldman Sachs International in London and a merger and acquisition analyst at Deutsche Bank.
Matthew Landy is a Portfolio Manager/Analyst on the Global Listed Infrastructure and Global Equity Franchise teams. He began working in the investment field in 1995. Prior to joining Lazard in 2006, Matt worked in the private equity industry.
John Mulquiney is a Portfolio Manager/Analyst on the Global Listed Infrastructure and Global Equity Franchise teams. John holds a PhD from the Australian National University, and a BA (Hons) from Sydney University. He is a CFA charterholder.
Warryn Robertson is a Portfolio Manager/Analyst on the Global Listed Infrastructure and Global Equity Franchise teams. He has been working in the investment field since 1992.
Bertrand Cliquet, John Mulquiney Matt Landy & Warryn Robertson Lazard Asset Management
Credit Suisse Asset Management
Credit Suisse Asset Management Franklin Templeton Investments Lazard Asset Management
Infrastructure
SICO Bank
First Abu Dhabi Bank Asset Management Integra Jadwa Investment Kuwait Financial Centre 'Markaz' SICO Bank
Shirish Raut Bank Muscat Essa Buheji, Kais Mbarek & Riyyas AbdulKader Integra Faisal Al-Rayes, Bilal Sabbah & Syed Talal Mehdi Jadwa Investment Ahmed Al Shalfan, Fahad Al Rushaid & Ghazi Al Osaimi Kuwait Financial Centre 'Markaz' Malik Zahir SICO Bank
Middle East & North Africa
EQUITY
Jadwa Investment Saudi National Bank SICO Bank
Abdulaziz A. AlMansour, Ali AlDawood, Hamad Al Barrak & Ranasinghe Haliyadda Alistithmar Capital Faisal Al-Rayes, Bilal Sabbah & Syed Talal Mehdi Jadwa Investment Ahmad Bamokhayyar Saudi National Bank Malik Zahir SICO Bank
Saudi Arabia
Stephen Jue Allianz Global Investors Alfred Grusch & Francesco Sandrini Amundi David Clayton, Rick Rieder & Russ Koesterich BlackRock Christopher Schütz & Sacha Widin Credit Suisse Asset Management Ajay Tyagi & Rahul Aggarwal UTI
Stephen Jue is Director, Portfolio Manager/Analyst at Allianz Global Investors. He is lead manager of new intelligent cities and related innovative decarbonization thematic strategies as well as co-manager of $10 billion+ global Artificial Intelligence strategy. He has over 20 years investment experience covering the technology sector with deep domain knowledge of Hardware, Networking, Software & Services, Internet, and Semis. He completed his MBA from the University of Chicago Booth School of Business.
Stephen Jue Allianz Global Investors
U
MIXED ASSETS
Allianz Global Investors Goldman Sachs Asset Management HSBC Global Asset Management Man Group UTI
D
Alastair Gillespie, James Wilkinson & Mark Howard-Johnson BlackRock Guy Morrell & Nicholas Leming HSBC Global Asset Management Guy Barnard & Tim Gibson Janus Henderson Anthony Kenkel, Kelly D. Rush & Simon Hedger Principal Global Investors Hugo Machin & Tom Walker Schroders
Global Equity
PROPERTY
Janus Henderson
BlackRock Fidelity International Janus Henderson Principal Global Investors Schroders
Guy Barnard was born in Ipswich in 1981 and graduated from Loughborough University with a BSc in mathematics and management. He started his career in 2003 at UBS in financial control and in 2006 he joined Henderson Global Investors where he started as an analyst in property equities. Since 2008 he has been a fund manager in property equities (public markets). Guy is a Chartered Financial Analyst (CFA) and a member of the CFA society. Outside of fund management he enjoys golf and tennis.
Tim Gibson is co-head of global property equities and a portfolio manager at Janus Henderson Investors, a position he has held since 2014. Prior to joining Henderson in 2011, he was a European fund manager at AMP Capital Brookfield and an analyst for Morgan Stanley on European real estate investment. Gibson has an MA in economics from St Andrews University.
Guy Barnard & Tim Gibson Janus Henderson
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