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Monetary Matters with Jack Farley
Active Management Still Matters in Emerging Markets | Jamie Carter
Dec 10, 2024
Jamie Carter, Partner and Managing Director at Variis Partners, shares his extensive experience in emerging markets investment. He discusses the stark distinctions between long-only businesses and hedge funds. Carter highlights challenges in raising capital across the US, UK, and Europe, and why emerging markets are crucial for active management. He also addresses the impact of political policies on global markets and the importance of local knowledge in navigating these complex investment landscapes.
01:17:16
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Quick takeaways
- Jamie Carter emphasizes the unique challenges faced by long-only investment boutiques in raising capital, especially due to shrinking traditional funding sources in the UK.
- The bottom-up investment approach at Variis Partners targets inefficiencies in emerging markets, showcasing potential for generating alpha through concentrated stock selections.
Deep dives
Career Journey and Transition
Jamie Carter began his career at Mercury Asset Management and later transitioned to Oldfield Partners, where he focused on non-investment activities, including operations and business development. Over nearly 15 years at Oldfield, he played a crucial role in growing the firm from a business plan to managing assets reaching about $6 billion. Eventually, feeling a sense of stagnation after a successful journey and the firm’s maturation, Jamie sought a new challenge. His departure led to a chance encounter with Rufus at Longview Partners, which sparked discussions that ultimately resulted in the founding of Veris Partners.
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