Penrose MD Gay Collins, who worked with SAM chief investment officer John Cleary when the latter was head of emerging-market debt and global high yield at Invesco Asset Management, is to start work on the account this week.
Invesco subsequently slimmed down its panel of advisers, combining its PR accounts into a single brief now managed by Lansons Communications.
Penrose’s brief is designed to fit in with the wider strategy brought in by Cleary after he moved to SAM in February.
‘We are doing such a niche form of investment that we need to be very selective about who we target. We are not targeting retail investors and we are not going to be mounting a huge advertising campaign,’ Cleary said.
The PR offensive is targeting private banks, independent financial advisers and high-net-worth individuals.
SAM invests in sovereign and corporate debt in emerging markets such as South America.