This week, we speak with Robert Koenigsberger, the managing partner and chief investment officer of Gramercy Funds Management. A dedicated emerging markets investment manager, Gramercy Funds Management — which Koenigsberger founded in 1998 — now has more than $5 billion dollars in assets under management.
We discuss how he first found his way into Emerging Markets Debt back in the 1980s, working in a small EM boutique. Koenigsberger says “I’ve been doing Emerging markets since before it emerged.”
Koenigsberger discusses why EM Debt often has a low correlation to equity markets: By using historical measures of drawdowns and valuations, the firm can own an assortment of debt at prices that are non-correlated to stocks.
He tells how former PIMCO CEO Mohamed A. El-Erian became the firm’s chairman. Originally an investor in Gramercy’s funds, he next became an advisor to the firm before becoming its Chairman.
A list of his favorite books is here; A transcript of our conversation is available here next week.
You can stream and download our full conversation, including any podcast extras, on iTunes, Spotify, Stitcher, Google, YouTube, and Bloomberg. All of our earlier podcasts on your favorite pod hosts can be found here.
Be sure to check out our Masters in Business next week with Charley Ellis, he spent over a decade at Vanguard serving as a strategy consultant and member of the Board of Directors. Previously, he founded Greenwich Associates, was chair of Yale University’s Endowment investment committee, was Chair of the CFA Institute. He is the author of 19 books on business and investments, including the classic “Winning the Loser’s Game” (now in its eighth edition) His latest book is “Inside Vanguard: Leadership Secrets From the Company That Continues to Rewrite the Rules of the Investing Business.”
Robert Koenigsberger’s Current Reading
