Pictet Asset Management has hired Luke Chua to further bolster its emerging market corporate bonds team, the Swiss group has announced.
Chua joins Pictet in its London office having spent the last seven years with Schroders.
Chua is the latest recruit to Defise's team which saw several new hires over the course of 2013. These included analysts Anya Kopyleva and Ivan Fernandez as well as client portfolio manager Karen Lam.
During his tenure with Schroders, Chua had been based in Singapore and served as co-manager on the Taiwan-domiciled Schroder Global High Income Bond fund and the Ucits-compliant equivalent, the Schroder ISF Global High Income Bond fund.
The Schroder Global High Income fund has returned 8.69% over the three years to the end of November 2013. This compares to a rise of 43.97% by its Citywire benchmark, the LCI Merrill Lynch HY/Barclays US Corp HY (50:50), over the same period.
Meanwhile, the Schroder ISF Global High Income Bond A Acc fund has returned 1.35% in the 12 months to the end of November 2013.
During this analysis period, its benchmark, which is also the LCI Merrill Lynch HY/Barclays US Corp HY (50:50), rose 12.61%.