Barings plans retail Indian equity portfolio

Baring Asset Management expects to unveil a retail Indian equity portfolio in the first half of 2010. The planned launch follows the appointment last week of Kommera Chakradhar Reddy as the firm’s head of India equities.

Ian Pascal, the head of marketing at Barings, says the fund is in the early stages of development but it is likely to be offshore-domiciled and structured to appeal to British investors. “It is a gap in our range, and a gap we want to fill,” he says.

Until the launch, Reddy will be responsible for managing the $200m (£120m) of Indian equities held within Barings’ existing emerging market products. Reddy joins the firm from ABN Amro in Mumbai, where he was chief investment officer.

During his time at ABN Amro, Reddy oversaw 15 investment funds with total assets of $2.75 billion. In his previous role as a senior fund manager at Charlemagne Capital he was responsible for launching and running an Indian equities portfolio.

Pascal says the Barings India fund will be the latest stage in the firm’s efforts to “improve the attractiveness” of its emerging market range.

As Fund Strategy reported on August 3, the firm has already added a retail share class with a minimum investment of £2,000 to its institutional Emerging Markets Oeic.

Next month Barings will add sterling share classes to five of its Dublin-domiciled funds – China Select, Eastern Europe, Global Resources, Hong Kong China and Latin America. Pascal says the firm’s Chinese and eastern European equity funds have attracted inflows in recent months.