Baring Asset Management Enters Frontier Markets
The Baring 'Mena' fund will capitalize on growth opportunities created by high gas and oil, as well as construction, tourism, and infrastructure. The frontier market fund will be benchmarked to the MSCI Arabian Markets ex Saudi Arabia index and will carry a fee of 15 per cent for out performance in addition to the annual fee of 1.5 per cent.
Baring Asset Management has also moved into the frontier stock markets of South East Asia by converting its Pacific Fund into the Baring Asian Frontiers Fund. The Baring group has said the conversion was in driven by the growing demand from investors for exposure to the smaller, rapidly growing markets in Asia such as Sri Lanka and Vietnam. The annual management fee of this fund will be 1.25 per cent and this fund will be benchmarked against the MSCI South East Asia Index.