Baring AM in fund conversion

Baring Asset Management has converted the Baring Portfolio Fund into a more flexible multi-asset product to help advisers and clients looking for a lower-cost diversified investment.

Marino Valensise, head of the Baring Multi-Asset Group, said: “Barings has a long track record in multi-asset investing, with a well-resourced and experienced team.

“This product is designed to bring our multi-asset capability and experience to market at a lower price point. This will suit members of pension schemes that fall under the new auto-enrolment legislation, which comes into effect in April 2015.”

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Key Features

■ The fund has been renamed as Baring Dynamic Capital Growth Fund and was made available on 1 November.

■ It is managed by Alison Huang and the investment objective of the fund is to achieve long-term capital growth through global investments.

■ The Baring Dynamic Capital Growth Fund will aim to keep the level of risk to a minimum of 80 per cent equity risk.

■ The fund will use three-month Libor + 3 per cent as a performance comparator.

■ It will invest directly and indirectly in equities, fixed-income securities, money market instruments, commodities and cash.

Adviser verdict

Carl Melvin, chief executive of Renfrewshire-based Affluent Financial Planning, said: “I suspect it might be part marketing and part technical restructuring to allow the manager more freedom.

“They are not the first investment house to do this, but the proof of the pudding is in the performance.”