Principal Global Investors has established an emerging-markets equities portfolio manager in Singapore for the first time. Michael Marusiak has recently transferred there from the firm's Des Moines, Iowa headquarters.
The Singapore office originally belonged to BT, which was then acquired and sold again by Principal, but it kept the Singapore office. It has not had any portfolio managers in the region until now, however.
Marusiak explains the move was to shore up a new dedicated Asian equity product, which was launched late last year Asia also makes up over 50% of the emerging markets universe.
Being closer to the markets and companies will result in better information flows...