Gary Greenberg will remain Global Head of Emerging Markets but will step back from day-to-day management of portfolios and his role as Co-Portfolio Manager on the funds named above. He will continue to oversee the team, asset allocation and stock selection until his retirement in 2022, which was first announced in November 2019.
Kunjal has been Co-Portfolio Manager of the Hermes Global Emerging Markets Fund since 2016 and of the Hermes Global Emerging Markets SMID Equity Fund since 2018. He is a highly experienced investment professional having worked closely with Greenberg and the emerging markets team over the past eight years on developing and implementing the funds’ longstanding investment philosophy and processes.
Prior to joining Federated Hermes, Kunjal worked for UK Government Investments in its portfolio management team, Morgan Stanley’ investment bank in the UK and PwC Assurance and Business Advisory services in India.
Kunjal will be supported by a team which has over 150 years of combined investing experience in emerging markets. This group has worked closely over the past decade in developing their own distinctive investment philosophy and approach. This includes the use of top-down and bottom-up market and sector insights, integration of ESG throughout the process and development of high active share and concentrated portfolios.
In 2019, the team was strengthened further with the addition of Vivek Bhutoria, a senior analyst with 13 years’ experience working in emerging market equities.
Eoin Murray, Head of Investment for the International business of Federated Hermes said: “Gary and Kunjal have created an industry-leading approach to emerging markets investment which has delivered consistent returns for our clients. The appointment of Kunjal is a natural evolution within our emerging markets team and we are delighted to have such strong capabilities in place to deliver on our successful approach. Kunjal is an exceptionally talented portfolio manager and we are confident that he will continue to deliver for our clients.
“I would like to thank Gary for his contribution to Federated Hermes in his portfolio management role and am pleased that he will be closely supporting Kunjal over the next two years.”
Kunjal Gala added: “Over the past eight years, we have built an exceptional emerging markets team and I am delighted to take on this role. Gary has instituted a highly successful investment process and built a strong team of experienced professionals. We are all grateful for his dedication to the company and look forward to having his continued support.”