Barings’ retail Multi-Asset fund has seen assets fall rapidly since the announcement by the company that three members of the team had decided to leave the firm.
Since Percival Stanion, Andrew Cole and Shaniel Ramjee resigned from Barings earlier this month, the Multi-Asset fund has lost almost 35 per cent of its assets under management, according to data from FE Analytics.
The fund has dropped from £1.03bn to £672m.
Chris Mahon has taken over the fund from Mr Cole, who had been at Barings for 28 years.
Rod Aldridge, head of UK wholesale distribution, acknowledged there had been outflows but was confident in the performance of the fund.
“We’ve been investing in multi-asset strategies since early 2000 and remain fully committed to our multi-asset business,” he said.
“We’ve recently made some very high quality hires in this area, such as Sonja Laud, who joined us earlier this month and we continue to manage portfolios dynamically and with conviction.”
The group hired Ms Laud as multi-asset income investment manager. She was formerly at Schroders where she ran global equity income products.
Ms Laud reports into Marino Valensise, former chief investment officer. Mr Valensise now runs the multi-asset team.
He has been replaced as chief investment officer by new hire Ken Lambden, previously global head of equities at Schroders until last year when he left the group.
