On Monday 1 June, we announced that Kunjal Gala has been appointed Lead Portfolio Manager for the Hermes Global Emerging Markets Fund and the Hermes Global Emerging Markets SMID Equity Fund with effect from 1 September 2020. Gary Greenberg will remain in his role as Global Head of Emerging Markets but will step back from day-to-day management of portfolios.
On 9 June we held a webinar where Gary and Kunjal explain their responsibilities going forward and how they will transition to these roles. Kunjal also provides an outlook for emerging-market equities.
Kunjal joined the international business of Federated Hermes in February 2012 as a senior analyst on the Emerging Markets team focused on Asia ex Japan. He became co-portfolio manager for pooled products and segregated mandates in September 2016. In January 2020, he became co-portfolio manager for all portfolios managed by the Global Emerging Markets team and was subsequently named lead portfolio manager in September 2020. Kunjal joined from Her Majesty's Government, where he worked from October 2008 as an assistant director in The Shareholder Executive, the in-house portfolio management and corporate finance arm of the UK Government. Prior to this he was a senior financial analyst at Morgan Stanley Investment Banking from December 2004, responsible for both business development and execution of M&A and strategy mandates within the consumer products coverage banking team. Previously he worked for Thomas Cook (India) in the management information systems division (September 2003), and PricewaterhouseCoopers in the Assurance and Business Advisory Service (August 2001). Kunjal has a Bachelor of Commerce from Mumbai University and is a qualified Chartered Accountant from the Institute of Chartered Accountants in India.
Gary is Head of Global Emerging Markets and joined the international business of Federated Hermes in September 2010. Prior to this, he was managing partner at Silkstone Capital and Muse Capital, both London-based hedge funds he co-founded and managed in 2007 and 2002, respectively. From 1999 through 2002 he was executive director at Goldman Sachs in New York and London, where he co-headed the emerging markets product for GSAM and served on the global asset allocation and European stock selection committees. From 1998 to 1999 he was managing director at Van Eck Global in Hong Kong and New York, where he was the lead portfolio manager for international equities and ran the Hong Kong office. From 1994 through 1998 Gary was chief investment officer at Peregrine Asset Management in Hong Kong, managing and supervising global and regional equity, plus fixed income funds. In the early years of his career he was a principal of Wanger Asset Management in Chicago, where he co-founded and co-managed the Acorn International Fund, which grew to $1.4bn under his tenure. Gary holds an MBA from Thunderbird School, a BA from Carleton College and is a CFA charterholder. In 2018, the Federated Hermes Global Emerging Markets Fund was named best emerging markets fund for the third year in a row at the Investment Week Fund Manager of the Year Awards, best regional equity specialist within the emerging markets category at the FE Manager of the Year Awards, best emerging markets group by Citywire Switzerland and won the Portfolio Adviser Fund Awards for emerging markets. Gary was named best manager for emerging markets equity by Citywire UK in 2017.