Neuberger launches an emerging equity fund with a value focus and contrarian management
4 MAY, 2026
By Joanna Piwko from RankiaPro Europe
Neuberger announced today the launch of the Neuberger Emerging Markets Equity Fund. The fund will be managed by Juan Torres and Vera German, who joined the firm in 2025 and have over three decades of combined experience, with the aim of generating long-term capital appreciation by identifying undervalued opportunities in emerging markets.
The strategy relies on a bottom-up stock selection, independent of benchmark indices, focused on companies that trade in the cheapest quintile of the emerging markets universe. The managers apply a contrarian philosophy, "aware of macroeconomics, not driven by macroeconomics", seeking that the investor is duly compensated for the risk assumed.
Fund Portfolio
The portfolio usually concentrates between 30 and 70 positions, built from a five-pillar value framework: fallen angels, cyclicals, special situations, structural challenges, and hidden growth. This approach aims to diversify among different types of value, maintaining a disciplined focus on absolute return.
Based in London, Juan Torres and Vera German have a AA rating from Citywire and the backing of Neuberger's global analysis platform. The support includes analysts from Greater China located in Hong Kong and Taipei, resources in India, and a global sector analysis team made up of 50 professionals.
Neuberger manages 147,000 million dollars on its equity platform, which combines fundamental and quantitative approaches to offer solutions aligned with each client's objectives.
Emerging markets continue to be one of the aspects of global equity with lower allocation and less analysis coverage, and we believe that is where disciplined value investors can find attractive opportunities. The breadth of the opportunity set, combined with the structural challenges that deter many active investors, creates the conditions for a contrarian and analysis-based approach that adds real long-term value. We deliberately seek companies that are outside the general attention of investors.
Juan Torres, portfolio manager at Neuberger
The Neuberger Emerging Markets Equity Fund offers investors an actively managed and high conviction route to access these opportunities. Valuations in the value universe remain at historically attractive levels, and an increasingly broad set of catalysts in emerging economies makes this an opportune time to consider a dedicated allocation. The fund is designed to offer differentiated returns through a rigorous bottom-up process, focused on companies that trade at a significant discount to their intrinsic value.
Vera German, CFA, portfolio manager at Neuberger
The launch comes at a time when emerging market equities trade 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 new catalysts for value-oriented sectors. For clients seeking diversification beyond the consensus positions that dominate most emerging market strategies, the fund offers a clearly differential set of exposures, based on a disciplined process driven by value.
José Cosio, head of global intermediaries excluding the U.S. at Neuberger
