Barings hires head of Indian equities

Baring Asset Management has appointed Ajay Argal as head of Indian equities.

He reports to Asia chief investment officer Wilfred Sit and will be based in Hong Kong when he joins the firm in September.

Argal has more than 17 years of experience in the fund management industry and joins Barings from Birla Sunlife AMC where he was head of offshore equities and managed the India advantage fund and excel India fund. Prior to this he was with UTI AMC where he was responsible for managing a number of Indian equity funds.

Sit says: “We believe that India represents a strong long-term growth story. Domestically, India’s fast growing middle income class is driving a boom for consumer goods, while demand for housing and financial services is likely to remain strong for many years to come as the pace of urbanisation accelerates.”