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Baring Dynamic Asset Allocation fund passes GBP1bn in assets

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Baring Asset Management has announced that its flagship multi-asset targeted return product, the Baring Dynamic Asset Allocation fund, has reached a net asset value of GBP1.029bn in the

Baring Asset Management has announced that its flagship multi-asset targeted return product, the Baring Dynamic Asset Allocation fund, has reached a net asset value of GBP1.029bn in the two years since it launched in January 2007, with 30 clients invested.

Richard Graham, head of UK institutional business at Barings (photo), says: ‘We are delighted that the number of pension schemes investing in the Dynamic Asset Allocation fund has continued to rise sharply since the fund launched despite a challenging environment. The fund builds on over seven years of Barings’ experience managing multi asset targeted return segregated mandates. It offers asset diversification with an absolute return focus.

‘With equity markets currently experiencing high levels of volatility and the negative returns of the last two years, an increasing number of consultants appreciate the benefits of a multi asset approach, capable of diversifying schemes’ assets, reducing equity risk and benefiting from tactical asset allocation decisions in volatile markets.’

Graham says since inception the fund has returned +2.94 per cent compared to the FTSE All Share which is down 26.13 per cent over the same period. Over the fourth quarter of 2008 the fund also saw positive returns of +0.66 per cent compared to the FTSE All Share which was down 10.19 per cent.

Pension funds invested in the fund include Fiat Common Investment Fund, the London Borough of Hammersmith & Fulham, Oxford University Press, Comet Trustee Company, Nuffield Health, Fuller Smith & Turner, Times Warner and Habitat.

‘Capital rotation and diversification are central planks of our strategy,’ says Dean Wetton, senior consultant at investment consultancy P-Solve. ‘This type of product is one way of doing this and as a result we are seeing an increasing number of our clients (particularly UK pension funds) becoming interested in dynamic asset allocation strategies. Current market conditions suggest that this will be one of the most important aspects of return generation for funds in 2009.’

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