Active Emerging Markets Portfolio Manager Transition Plans FAQ
January 10, 2024
Read Time 4 MIN
- Is David Semple retiring?
- Who will serve as the Fund’s new portfolio manager?
- Who is on the Investment Team and what are their roles before and after the change?
- How does Ms. El-Shawarby’s promotion to Portfolio Manager change her role or her responsibilities?
- How will elements of the Fund’s investment process differ with Ms. El-Shawarby as Portfolio Manager?
- What is the succession plan for the VanEck Emerging Markets Equity Strategy?
- What are your immediate resourcing plans, given these changes?
Is David Semple retiring?
No. David Semple is stepping down from his role as Portfolio Manager for the VanEck Emerging Markets Fund (the Fund) and related strategies, effective on May 1, 2024. He will serve as Strategic Adviser after this transition.
Who will serve as the Fund’s new portfolio manager?
Effective May 1, 2024, the Fund’s current Deputy Portfolio Manager Ola El-Shawarby, CFA will replace David Semple as the Portfolio Manager. Angus Shillington, current Deputy Portfolio Manager, will remain as Deputy Portfolio Manager.
Ola’s transition to Portfolio Manager is a natural progression in her career, reflecting her deepening involvement and expanding responsibilities in guiding the Fund's strategic direction. Her leadership is expected to continue to enrich the Fund’s performance and align with investor goals.
Ola has been an integral part of the emerging markets equity investment team since 2017, starting as a Senior Analyst with a focus on the Eastern Europe, Middle East, and Africa (EEMEA) region. She has nearly 20 years of industry experience, including previous roles as a Director and Investment Analyst at Caravel Management and experience as a local Portfolio Manager in the Middle East and North Africa region. These responsibilities as well as her academic credentials, including an MBA from Harvard Business School and several undergraduate degrees, reinforce her portfolio management abilities and knowledge.
Her unique insights, drawn from her upbringing in Egypt and Saudi Arabia, experiences as a local portfolio manager, and extensive travels, have greatly influenced her understanding of the dynamic economic, cultural, and technological trends in emerging markets. During her tenure as Deputy Portfolio Manager, Ola expanded her scope, delving deeper into diverse areas of investment across emerging markets.
For a more in-depth look at Ola’s market perspectives and investment philosophy, we invite you to visit Ola’s thought leadership page, where you can access her latest investment insights and analyses and watch a short Meet Ola video.
Who is on the Investment Team and what are their roles before and after the change?
| Team Member | Role in 2023 | Role as of May 2024 |
| David Semple | Portfolio Manager | Strategic Adviser |
| Ola El-Shawarby | Deputy Portfolio Manager | Portfolio Manager |
| Angus Shillington | Deputy Portfolio Manager | Deputy Portfolio Manager |
| Patricia Gonzalez | Senior Research Analyst | Senior Research Analyst |
| Yi Rong | Senior Research Analyst | Senior Research Analyst |
| Janet Hong | N/A* | Analyst |
*Ms. Hong joined VanEck in 2024.
How does Ola’s promotion to Portfolio Manager change her role and responsibilities?
Ola El-Shawarby's promotion to Portfolio Manager significantly expands her responsibilities:
- Team Management: Ola leads the investment team, aligning their efforts with Fund goals.
- Portfolio Construction: She will assume final authority in key investment choices.
- Company Research and Stock Selection: Ola directs the team's research process and strategic stock selection.
- Risk Management: Ola oversees strategies to mitigate financial risks.
- Stakeholder Communication: Ola is the primary communicator with investors.
In essence, her role has shifted from support to leading the Fund's strategic direction and operations.
How will elements of the Fund’s investment process differ with Ms. El-Shawarby as Portfolio Manager?
There are no proposed changes to the Fund’s principal investment strategies.
- The Fund will continue to seek long-term capital appreciation by investing in equity securities in emerging markets around the world.
- The Fund – supported by a seasoned team who lived or worked in the areas they cover – will continue to seek to achieve its investment objective through active, bottom-up, fundamental research.
- The Fund will continue to invest in high-quality, structural growth companies at a reasonable price that are poised to represent future development and growth of emerging markets.
What is the succession plan for the VanEck Emerging Markets Equity Strategy?
Should Portfolio Manager Ola El-Shawarby become unavailable due to an unforeseen event, Deputy Portfolio Manager Angus Shillington would initially manage the portfolio under the guidance and supervision of the Active Investment Committee. While VanEck has seen remarkable stability in its bench of senior investment personnel, it has managed several transitions since its founding in 1955 and recognizes that each strategy requires succession planning. In particular, the VanEck Emerging Markets Equity team has worked together for a long time, and the Firm is committed to maintaining the stability across its investment teams.
VanEck constantly monitors its bench of backup staff and resources to operate short or long term, in the event of any investment or executive management team unavailability.
What are your immediate resourcing plans, given these changes?
The Emerging Markets Equity team recently onboarded a research analyst (Janet Hong) with experience as a global EM generalist as well as a personal background in Asia, including Mandarin and Korean language skills to support the strategy’s research efforts, particularly in Asia. As Ola assumes the role of Portfolio Manager and expands her responsibilities, she will be gradually passing on direct coverage of EEMEA companies to other team members.
Follow Us
Related Topics
IMPORTANT DISCLOSURES
This is not an offer to buy or sell, or a recommendation to buy or sell any of the securities, financial instruments or digital assets mentioned herein. The information presented does not involve the rendering of personalized investment, financial, legal, tax advice, or any call to action. Certain statements contained herein may constitute projections, forecasts and other forward-looking statements, which do not reflect actual results, are for illustrative purposes only, are valid as of the date of this communication, and are subject to change without notice. Actual future performance of any assets or industries mentioned are unknown. Information provided by third party sources are believed to be reliable and have not been independently verified for accuracy or completeness and cannot be guaranteed. VanEck does not guarantee the accuracy of third-party data. The information herein represents the opinion of the author(s), but not necessarily those of VanEck or its other employees.
Any investment in the Fund should be part of an overall investment program, not a complete program. The Fund is subject to risks which may include, but are not limited to, risks associated with active management, consumer discretionary sector, direct investments, emerging market issuers, ESG investing strategy, financials sector, foreign currency, foreign securities, industrials sector, information technology sector, market, operational, restricted securities, investing in other funds, small- and medium-capitalization companies, special purpose acquisition companies, special risk considerations of investing in Chinese, Indian, and Latin American issuers, and Stock Connect risks, all of which may adversely affect the Fund. Emerging market issuers and foreign securities may be subject to securities markets, political and economic, investment and repatriation restrictions, different rules and regulations, less publicly available financial information, foreign currency and exchange rates, operational and settlement, and corporate and securities laws risks. Small- and medium-capitalization companies may be subject to elevated risks. Investments in Chinese issuers may entail additional risks that include, among others, lack of liquidity and price volatility, currency devaluations and exchange rate fluctuations, intervention by the Chinese government, nationalization or expropriation, limitations on the use of brokers, and trade limitations.
ESG integration is the practice of incorporating material environmental, social and governance (ESG) information or insights alongside traditional measures into the investment decision process to improve long term financial outcomes of portfolios. Unless otherwise stated within an active investment strategy’s investment objective, inclusion of this statement does not imply that an active investment strategy has an ESG-aligned investment objective, but rather describes how ESG information may be integrated into the overall investment process.
ESG investing is qualitative and subjective by nature, and there is no guarantee that the factors utilized by VanEck or any judgment exercised by VanEck will reflect the opinions of any particular investor. Information regarding responsible practices is obtained through voluntary or third-party reporting, which may not be accurate or complete, and VanEck is dependent on such information to evaluate a company’s commitment to, or implementation of, responsible practices. Socially responsible norms differ by region. There is no assurance that the socially responsible investing strategy and techniques employed will be successful. An investment strategy may hold securities of issuers that are not aligned with ESG principles.
Investing involves substantial risk and high volatility, including possible loss of principal. Bonds and bond funds will decrease in value as interest rates rise. An investor should consider the investment objective, risks, charges and expenses of a fund carefully before investing. To obtain a prospectus and summary prospectus, which contain this and other information, call 800.826.2333 or visit vaneck.com. Please read the prospectus and summary prospectus carefully before investing.
© Van Eck Securities Corporation, Distributor, a wholly owned subsidiary of Van Eck Associates Corporation.
Related Funds
IMPORTANT DISCLOSURES
This is not an offer to buy or sell, or a recommendation to buy or sell any of the securities, financial instruments or digital assets mentioned herein. The information presented does not involve the rendering of personalized investment, financial, legal, tax advice, or any call to action. Certain statements contained herein may constitute projections, forecasts and other forward-looking statements, which do not reflect actual results, are for illustrative purposes only, are valid as of the date of this communication, and are subject to change without notice. Actual future performance of any assets or industries mentioned are unknown. Information provided by third party sources are believed to be reliable and have not been independently verified for accuracy or completeness and cannot be guaranteed. VanEck does not guarantee the accuracy of third-party data. The information herein represents the opinion of the author(s), but not necessarily those of VanEck or its other employees.
Any investment in the Fund should be part of an overall investment program, not a complete program. The Fund is subject to risks which may include, but are not limited to, risks associated with active management, consumer discretionary sector, direct investments, emerging market issuers, ESG investing strategy, financials sector, foreign currency, foreign securities, industrials sector, information technology sector, market, operational, restricted securities, investing in other funds, small- and medium-capitalization companies, special purpose acquisition companies, special risk considerations of investing in Chinese, Indian, and Latin American issuers, and Stock Connect risks, all of which may adversely affect the Fund. Emerging market issuers and foreign securities may be subject to securities markets, political and economic, investment and repatriation restrictions, different rules and regulations, less publicly available financial information, foreign currency and exchange rates, operational and settlement, and corporate and securities laws risks. Small- and medium-capitalization companies may be subject to elevated risks. Investments in Chinese issuers may entail additional risks that include, among others, lack of liquidity and price volatility, currency devaluations and exchange rate fluctuations, intervention by the Chinese government, nationalization or expropriation, limitations on the use of brokers, and trade limitations.
ESG integration is the practice of incorporating material environmental, social and governance (ESG) information or insights alongside traditional measures into the investment decision process to improve long term financial outcomes of portfolios. Unless otherwise stated within an active investment strategy’s investment objective, inclusion of this statement does not imply that an active investment strategy has an ESG-aligned investment objective, but rather describes how ESG information may be integrated into the overall investment process.
ESG investing is qualitative and subjective by nature, and there is no guarantee that the factors utilized by VanEck or any judgment exercised by VanEck will reflect the opinions of any particular investor. Information regarding responsible practices is obtained through voluntary or third-party reporting, which may not be accurate or complete, and VanEck is dependent on such information to evaluate a company’s commitment to, or implementation of, responsible practices. Socially responsible norms differ by region. There is no assurance that the socially responsible investing strategy and techniques employed will be successful. An investment strategy may hold securities of issuers that are not aligned with ESG principles.
Investing involves substantial risk and high volatility, including possible loss of principal. Bonds and bond funds will decrease in value as interest rates rise. An investor should consider the investment objective, risks, charges and expenses of a fund carefully before investing. To obtain a prospectus and summary prospectus, which contain this and other information, call 800.826.2333 or visit vaneck.com. Please read the prospectus and summary prospectus carefully before investing.
© Van Eck Securities Corporation, Distributor, a wholly owned subsidiary of Van Eck Associates Corporation.