Neptune Investment Management has announced its Latin America fund manager Tom Smith is to take over its India fund as Kunal Desai leaves the firm.
Tom Smith is also being promoted to co-head of emerging markets alongside Ewan Thompson, with the pair both previously being assistant managers on the India fund.
Desai joined Neptune in 2010 and has been manager of the £105m India fund since December 2012. Investment Week understands he has plans to join a boutique firm working on an emerging markets fund after its gardening leave.
Meanwhile, Smith joined Neptune in July 2009 and took over the £40.5m Latin America fund in 2011. Over the past three years to 16 May the Latin America fund has returned 50.6% compared to the IA Specialist sector return of 24.7%, according to FE.
He has previously covered energy and utilities research in India and takes over the fund with immediate effect.
Robin Geffen, founder and CEO of Neptune, told Investment Week: "Tom's performance on the Latin America fund has been outstanding since he took over and we are very excited about bringing those skills and management to the India fund. It gives him a wider stage to play on."
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