three funds to launch in next six months for payne, richards and Akopian
Three Barings emerging market managers have set up their own boutique, backed by Resolution Asset Management, and are to launch a series of funds.
John Payne, Stuart Richards and Marina Akopian plan to launch three offshore funds within the next six months.
At Barings, Payne was responsible for the global resources long/short, Richards ran an emerging Europe long only and Akopian managed an Eastern Europe, Middle East and Africa (EMEA) absolute return fund.
The Baring EMEA Absolute Return fund was launched in November and is aiming for annual returns in excess of 20% with volatility of around 15%. The fund has a natural long bias.
Akopian joined Barings in 2004 as manager of its New Russia fund and became a director in the emerging Europe division in 2005. Prior to this, she worked for Rexiter Capital Management as well as Pictet Asset Management.
Richards had managed the Baring Emerging Europe portfolio since 2004 and had been a member of the emerging markets equity team since 1996. He became a director in 2002.
Payne joined Barings as an investment director of global emerging markets in May 1999. He joined Baring London from Baring Asia where he was investment specialist covering Asian and Australasian markets between 1993 and 1999.
Jonathan Polin, sales and marketing director at Resolution, said: "This latest joint venture will operate on a similar basis to the ones we have established with Barry Norris and Oliver Russ at Argonaut and David Stevenson and Andrew Kelly at Cartesian."
Last month, Britannic Asset Management rebranded as Resolution after the merger between Britannic Group and Resolution Life in September 2005.
Gavin Stewart, chief executive of Resolution, said: "We have a new management team in place, we have changed our strategic direction and launched a raft of new products - all in addition to increasing the size and scale of our business."
Barings managers John Payne, Stuart Richards and Marina Akopian join Resolution Asset Management
Managers to run similar portfolios to the ones they managed at Barings
Britannic Asset Management changed name to Resolution Asset Management last month
'Will remain an independent business'
Despite improved risk appetite
FOS award limit increase
Relates to 136 million transaction reports
Ceremony will take place 13 November