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Barings winds up multi-manager range

Baring Asset Management has wound up its multi-manager range to focus on the development of its multi-asset strategy.

The group confirmed it made James Calder, the head of the multi-manager team, redundant at the end of last
year, while the analysts on his team moved into the broader multi-asset department.

The multi-manager funds, Extended Risk, Optimum Risk and Reduced Risk, had combined assets under management of £30m at the beginning of the year. After Barings told investors of its intentions to wind up the range, most moved into the institutional multi-asset fund or the retail version launched in March.

Ian Pascal, marketing director at Barings, says the move to close the multi-manager funds was decided as investor feedback showed they preferred multi-asset to multi-manager.

The retail version of the group’s £1 billion Dynamic Asset Allocation fund, an institutional fund that has been in existence for six years, launched on March 23 under Andrew Cole.

Pascal adds it was around this time the multi-manager range ceased to exist.

Calder has not yet emerged elsewhere in the industry since his brief stint at Barings. He joined in October 2007, after leaving his post at Berry Asset Management. He replaced Sam Jeffries, the previous head of multi-manager, who left with five other members of the team for Sarasin Chiswell’s private client business in May of that year.

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