FCA-Regulated Asset Manager

Conviction-Driven Emerging Market Long/Short Credit Fund

Deep expertise in sovereign and corporate credit across emerging markets. FCA-regulated. Designed for investors who seek uncorrelated returns backed by rigorous research and a proven track record.

Start a Conversation
5+
Year Track Record
30+
Years Combined Investing Experience

Our Strategy

Frontier Road specialises in emerging market sovereign and corporate credit, with a focus on identifying investment opportunities that others have overlooked. Our team brings together decades of experience trading and investing in these complex markets.

We employ a fundamental, bottom-up research process combined with macroeconomic analysis to identify mispriced opportunities with asymmetric risk-reward profiles. Our conviction-driven approach allows us to make bold, differentiated positions in credit where we see compelling value.

Deep Research
Rigorous fundamental credit analysis combined with proprietary macro frameworks to identify genuine alpha.
Emerging Market Expertise
Unmatched experience across EM sovereigns, corporates, and structured credit since 2007.
Conviction Positioning
We make differentiated bets where our analysis reveals mispriced opportunities others miss.
Risk Management
Disciplined portfolio construction and rigorous risk controls protect capital during volatility.

Delivering Results

Frontier Road's investment team has generated consistent, strong risk-adjusted returns since inception. Our conviction-driven approach to emerging market credit demonstrates the power of our research-intensive methodology.

These returns have been achieved while managing volatility and protecting capital during market dislocations. We believe our track record reflects the quality of our analysis and our ability to identify genuine mispricings in credit markets.

Since 2021
Delivering Strong Risk-Adjusted Returns in Volatile Markets

Our Process

Fundamental Research

In-depth analysis of sovereign fundamentals, corporate credits, and structural dynamics. We build proprietary credit models and maintain relationships with key market participants.

Versatile Exposure

We believe that the current market opportunity set should inform our exposure. Our 4 investment strategies allows for a versatile exposure to not only lower volatility but also enhance total returns over the business cycle.

Active Management

Disciplined position management with clear entry and exit criteria. We actively monitor our positions and adjust in response to changing market conditions and new information.

Our Team

Martin Bercetche

Founder & CIO

Over 20 years experience investing in Emerging Market credit. Prior to founding Frontier Road he was a Portfolio Manager at Millenium Partners. Prior to that, he ran the Emerging Market Portfolio at Claren Road Asset Management in London, HK and NY. He holds a B.Sc. from Duke University in Economics.

Goldman Sachs · Deutsche Bank · Claren Road · Millenium Partners

Baptiste Aubert

Credit Analyst

Over 7 years experience in Credit Trading and Quantitative Finance. Prior to joining Frontier Road, he was a EUR IG Corporates trader at Citi, focused on Autos, Utilities and Oil. Before that, he was an Algorithmic Credit trader at Morgan Stanley and HSBC, running EUR IG bond market making books. He holds an MSc in Big Data and Machine Learning from Mines-Telecom Institute and an MSc in Quantitative Finance from Dauphine University.

HSBC · Morgan Stanley · Citi

Anil Joshi

Chief Operating Officer

Over 30 years of Hedge Fund, Investment Banking and Accounting experience. Previously COO of Titan Capital Management, Portland Hill Capital and Old Lane London. Chartered Accountant (PwC), First Class B.Sc. in Banking and International Finance from Cass Business School.

Morgan Stanley · Credit Suisse · Deutsche Bank · Titan Capital

Steve Middleton

Chief Compliance Officer

Over 28 years experience in Investment Banking, regulatory structuring and compliance. Currently NED of an AIM-Listed PLC and Executive Director (SMF 3) of two AIFMs. MA in Management from Exeter University and an MBA.

BNP Paribas · Tokyo-Mitsubishi International

Alison Phillips

Head of BD & IR

Over 16 years experience in Investment Banking and Hedge Funds. Previously headed Business Development and IR for Karya Capital, a multi billion dollar New York based macro hedge fund. Spent 10 years as Rates Sales Director at Goldman Sachs. She holds a B.A. and MA (Oxon) from Hertford College, Oxford University.

Goldman Sachs · Karya Capital

Investor Portal

NAV Consulting

Fund administration and investor portal for existing Frontier Road Limited investors. Access statements, NAV, redemption requests, and key fund documents.

Access Portal

Frontier Monitor

Proprietary portfolio analytics and performance reporting. Detailed performance attribution, risk analytics, and fund metrics for authorised investors.

Institutional Insights

Frontier Monitor

Our proprietary investor reporting platform delivers institutional-grade transparency. Performance attribution, risk analytics, and portfolio metrics — built in-house, not outsourced.

Net Monthly Returns
Strategy Attribution
Allocation Breakdown
Cumulative Performance
Frontier Monitor — Investor Reporting

Investor Access

This dashboard is available to authorised investors. Enter your access code to continue.

Contact Us

Whether you're an institutional investor exploring emerging market credit exposure or interested in learning more about our strategy and track record, we'd welcome a conversation.

Reach Out

General Inquiries
Investor Relations
Location
London, United Kingdom
Regulation
FCA Authorised & Regulated