Baring Asset Management has lost a second senior fund manager from its newly combined UK and Europea...
Baring Asset Management has lost a second senior fund manager from its newly combined UK and European equities team with the departure of Lucy Macdonald to Dresdner RCM Global Investors.
Macdonald, who will be head of global equities at Dresdner, was named manager on the £36.8m Baring Leading Sectors fund launched earlier this year. Her move comes weeks after Richard Buxton, who managed the £277m Baring UK Growth fund, went to Schroders.
Macdonald has been replaced on Leading Sectors by Anne Underhill. The portfolio invests in a spread of five sectors: global media, global telecommunications, global financials, global technology and global healthcare.
Underhill, who is based in Boston and is responsible for the global healthcare component of the fund, takes over the portfolio overseen by global sector strategist Neil Robson. Macdonald's responsibility for the media portion of the Leading Sectors fund has been passed to Sarah Austin, who currently co-manages the £332m Barings European Growth fund with Jan Mantel, the head of the combined UK and European equities team.
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