NN Investment Partners has rebranded its Asia-focused high dividend fund and replaced existing manager Robert Davis with a new management team, Citywire Global has learned.
The change, which took place at the start of October, sees the fund rebranded from the NN (L) Asia Ex. Japan High Dividend fund to the NN (L) Asia Income fund.
He is in turn replaced by the trio of Ashish Goyal, Kannan Venkataramani and Colin Liang. Goyal and Venkataramani both joined from Eastspring Investments in September 2014, while Liang joined from SeaTown Holdings in March of this year.
During their tenure with Eastspring, Goyal ran the Eastspring Investments-Asian Equity Income fund from July 2010 to December 2013, while Venkataramani was manager on the Eastspring Investments-Asian Equity fund.
Speaking to Citywire Global, a spokesperson for NNIP said the change was due to the fund being reassigned from the company’s equities boutique to its emerging markets boutique, which is led by Goyal.
The NN (L) Asia Income fund lost 8.69% in US dollar terms over the three years to the end of September 2015. Its Citywire-assigned benchmark, the MSCI AC Asia ex Japan TR USD, rose 0.69% over the same timeframe.