Bosch de Hood will still have the support of Luis Carrillo, co-manager on the £34m investment trust, who has been involved with it since its launch in April 2010.
She has 14 years’ experience in the Brazil region, initially as a research analyst covering consumer and industrial companies, and, since 2012, as a portfolio manager.
Bosch de Hood will be based in New York but will visit Brazil regularly and says she expects “no material impact” to the way the fund is managed, assisted as she will be by the continued support of JPMorgan’s EM equity team, led by Richard Titherington.
The trust has seen its net asset value decline 32.4% on a total return basis over three years, against its benchmark’s fall of 33.3%.
Currency depreciation has been blamed in large part for the decline in the Brazilian equity market, as investors have unwound the carry trade they took on in anticipation of the US Federal Reserve's plans to "taper" its quantitative easing programme of injecting money into the US economy.
Luparia will become co-portfolio manager of the Total Emerging Markets Income Sicav and Total Emerging Markets US based mutual fund, while also supporting Titherington and Pierre-Yves Bareau.
