Baring Asset Management has converted the Baring Global Bond Trust into the Baring Strategic Bond Fund, which will be a more flexible fixed income product.
The new fund, incorporating the structure of a UK Authorised Unit Trust, is aimed at achieving long-term capital growth with income. It will have a clean share class charge of 0.65%.
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It will offer an unconstrained investment remit, investing in government and sovereign bonds in developed and emerging markets, investment grade and high yield corporate bonds, as well as currencies and derivatives.
The Global Bond trust, managed by Alan Wilde since August 2013, focused on government bonds as well as currency.
The new fund will be managed by the firm’s global aggregate head Guy Dunham, and fixed income investment manager Richard Balfour.
Barings head of UK Wholesale Rod Aldridge said, "The low interest rate environment and wider market volatility is driving significant demand from investors for more flexible fixed income products that are able to generate strong and consistent returns. We believe that combining assets from around the globe can increase returns and reduce risk, while actively allocating between sectors can also enhance performance."
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By GlobalDataBarings managed £7.8bn in fixed income assets as of December end 2014.
