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Justin Eeles

Head of Portfolio Management

Justin has been involved in the green bond market since its formative period thorough the management of the world’s first green bond fund, World Bank Green Bond Fund whilst at Nikko Asset Management. He is the most experienced investment practitioner in the market place in terms of running a dedicated Green Bond portfolio successfully against a recognized standard benchmark since 2010.  He joined Affirmative Investment Management in 2015 as Head of Portfolio Management to assist in developing solutions to meet investors’ needs using portfolios of green and other use of proceeds bonds.

Justin has more than 28 years’ experience in the investment industry, managing multi-currency fixed income portfolios across the yield curve. He has worked with a broad range of clients from captive insurance funds, to retail funds and institutional mandates as a portfolio manager at Aviva Investors and Nikko Asset Management. He has experience with managing single and multi-currency portfolios, in both developed and emerging markets, across all maturities including money market funds.

Following graduation from the University of Warwick in 1987 with a BSc. in Pure Mathematics, he joined Norwich Union Investment Management (now Aviva investors) as a Fund Manager in Global Fixed Income helping manage the company’s non-sterling fixed income portfolios. This covered multi-currency portfolios across the yield curves for the Life Insurance business and a unit trust as well as single currency portfolios of the general insurance businesses of Norwich Union and its joint ventures. During the period he studied for the qualification of AIIMR (equivalent to the current CFA qualification) as well as lecturing on bond mathematics and derivatives at the University of East Anglia. Following more than ten years gaining experience in the global bond markets he joined Nikko Asset Management Europe as Associate Director in Global Fixed Income. There he managed single and multi-currency portfolios for a diverse range of clients from Japanese retail funds to global institutional mandates. These ranged from money market funds and single currency bond funds to multi-currency portfolios. The latter included generating steady outperformance for a developed market portfolio for a supranational entity having taken over the management on joining Nikko. Aside from purchasing green bonds for the World Bank Green Bond fund, Justin purchased green bonds for other portfolios, and met with many issuers as they formulated their green bond frameworks.

 Employment & Qualifications

  • Head of Portfolio Management, Senior Partner, Affirmative Investment Management, London. UK, June 2015 – Present
  • Associate Director, Global Fixed Income, Nikko Asset Management Europe, London UK, June 1998 – April 2015
  • Global Fixed Income Fund Manager (non-sterling), Norwich Union Investment Management (Aviva Investors), Norwich UK, November 1987-  May 1998
  • AIIMR (equivalent to current CFA qualification) – 1990



  • BSc. Pure Mathematics, University of Warwick, UK, Sept 1984- July 1987
  • Investment Management Programme, London Business School – 1990