Neuberger announces the launch of the Neuberger Emerging Markets Equity Fund managed by Juan Torres and Vera German, who joined Neuberger in 2025 and have more than three decades of combined investment experience.
The strategy aims to provide long-term capital appreciation by uncovering out-of-favour opportunities across emerging market countries, sectors and market capitalisations. Stock selection is driven by a benchmark-agnostic, bottom-up value approach designed to identify mispriced companies trading in the cheapest quintile of the emerging markets universe.
Built on the principle that investors should be properly compensated for risk, the strategy applies a contrarian philosophy that the managers describe as “macro-aware, not macro-led”. The portfolio typically holds between 30 and 70 stocks, drawn from a five-pillar value framework spanning Fallen Angels, Cyclicals, Special Situations, Structural Challenges and Hidden Growth. This approach is intended to provide diversification across different types of value while maintaining a disciplined focus on absolute return.
Juan Torres, portfolio manager at Neuberger, comments: “Emerging markets remain one of the most under-allocated and under-researched corners of global equities, and we believe that is where disciplined value investors can find compelling opportunities. The breadth of the opportunity set, combined with the structural challenges that deter many active investors, creates the conditions for a contrarian, research-led approach that adds real value over the long term. We deliberately look for companies that sit beyond the mainstream of investor attention.”
Vera German, CFA, portfolio manager at Neuberger, continues: “The Neuberger Emerging Markets Equity Fund offers investors an actively managed, high-conviction means of accessing these opportunities. Valuations in the value space remain at historically attractive levels, and a broadening set of catalysts across emerging economies makes this a timely moment to consider a dedicated allocation. The fund is designed to deliver differentiated returns through a rigorous, bottom-up process, focusing on businesses trading at a significant discount to their intrinsic value.”
José Cosío, head of global intermediary ex US at Neuberger, adds: “The launch comes at a time when emerging market equities are trading at one of their widest valuation discounts to developed markets in recent years, while shareholder-friendly reforms in markets such as Korea and Brazil are creating fresh catalysts for value-oriented sectors. For clients seeking diversification beyond the consensus positions that dominate most emerging market strategies, the fund offers a distinctly different set of exposures, grounded in a disciplined, value-driven process.”
Based in London, the Citywire AA-rated duo are supported by Neuberger’s global research platform, including Greater China research analysts based in Hong Kong and Taipei, India-based resources, and the firm’s 50-strong global sector research team. Neuberger manages $147bn across its equities platform, including both fundamental and quantitative approaches to offer equity solutions aligned with each client’s goals.
Investing in the fund is subject to risk, including but not limited to the following:
Market Risk: The risk of a change in the value of a position as a result of underlying market factors, including among other things, the overall performance of companies and the market perception of the global economy.
Liquidity Risk: The risk that the portfolio may be unable to sell an investment readily at its fair market value.
Emerging Markets Risk: Emerging markets are likely to bear higher risk due to a possible lack of adequate financial, legal, social, political and economic structures, protection and stability as well as uncertain tax positions which may lead to lower liquidity. The value of a portfolio may experience medium to high volatility due to lower liquidity and the availability of reliable information, as well as due to the strategy’s investment policies or portfolio management techniques.
Stock Connect Risk: The Shanghai/Shenzhen-Hong Kong Stock Connect are relatively new trading programmes, where many of the relevant regulations are untested and subject to change at any moment as well as not as active as exchanges in more developed markets which may affect the ability to trade.
Counterparty Risk: The risk that a counterparty will not fulfil its payment obligation for a trade, contract or other transaction, on the due date.
Operational Risk: The risk of direct or indirect loss resulting from inadequate or failed processes, people and systems including those relating to the safekeeping of assets or from external events.
Derivatives Risk: The Fund is permitted to use certain types of financial derivative instruments (including certain complex instruments). This may increase the Fund’s leverage significantly which may cause large variations in the value of your share. (Investors should note that the Fund may achieve its investment objective by investing principally in Financial Derivative Instruments (FDI)). Certain investment risks apply in relation to the use of FDI. The use of leverage can amplify both gains and losses, which may result in a significant or a total loss of the fund’s value in adverse market conditions.
Currency Risk: Investments in a currency other than the base currency of the portfolio are exposed to currency risk. Fluctuations in exchange rates may affect the return on investment. If the currency of the portfolio is different from your local currency, then you should be aware that due to exchange rate fluctuations the performance may increase or decrease if converted into your local currency.
