Barings plans multi-asset resurge after exits and outflows
Baring Asset Management is planning to expand its multi-asset presence next year, as demand for diversified strategies continues to increase.
The promise follows the firm becoming the latest to launch a fund targeting the pensions market in early November this year.
At that time, the firm converted its multi-asset £32.9m Baring Portfolio fund into the Baring Dynamic Capital Growth fund and relaunched it to target “members of pension schemes that fall under the new auto-enrolment legislation”.
Speaking to FTAdviser, Rod Alridge, head of UK wholesale distribution, said: “We are also, of course, well known for our multi-asset capabilities, and will be looking to grow our presence in this area of the market, as demand for multi-asset strategies continues to increase.”
Barings lost three key members of its multi-asset team - Percival Stanion, Andrew Cole and Shaniel Ramjee - in August, who later went on to head up Pictet Asset Management’s push into the space.
Within weeks of their resignation the multi-asset fund had lost almost 35 per cent of its assets under management, according to data from FE Analytics.
Mr Alridge explained that the multi-asset investment now under Marino Valensise’s watch has recovered and it believes it is still well placed to offer a cost effective multi-asset solution in the UK auto-enrolment market and to defined benefit schemes.
“We also added a new team member of our multi-asset team with the hire of Sonja Laud this year, and her significant experience in income investing will be key as we seek to develop income-driven multi asset strategies across multiple jurisdictions in 2015.”
The firm also said it would be investing and promoting its capabilities in the actively managed equity area and fixed income products, focusing on its strength in emerging market and European equities, along with high-yield and emerging debt on the fixed income side.
Elsewhere, Mr Alridge stressed the firm’s strong international focus, with 40 per cent of its clients and staff based in Asia.
“As we look forward to 2015, we plan to make full use of the license we were granted in recent months to use offshore yuan to invest in mainland China’s securities markets under the RQFII programme.
“We continue to see strong long-term potential for the securities markets in China, fixed income as well as equities, and see the ability to invest directly in the domestic market as a key part of our investment proposition.”
Barings also plans to launch a range of locally domiciled funds in Hong Kong in the early part of the year, subject to regulatory approval.
“This new development furthers our commitment to investing in local talent and infrastructure in the region, as well as positioning us for the anticipated mutual recognition platform between Hong Kong and China.”
ruth.gillbe@ft.com
