Asia - Baring shifts ailing Pacific fund into smaller markets

Baring Asset Management is to convert the ailing Baring Pacific fund into the Baring Asean Frontiers fund in a bid to capture opportunities in smaller, faster-growing markets in Asia. Over the 12 months to the start of August, the Pacific fund returned -16.3% ($) and -22.3% (EUR), hit by local inflationary pressures and lack of exposure to Japan. The fund's benchmark, the MSCI AC Asia Pacific index, fell 12.2% ($) and 18.5% (EUR). With an objective of long-term growth, the fund invests in the Pacific and Pacific Rim region. Barings says 80% of the Asean (Association of South-East Asia...