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11 Feb, 2008


Published: 11:20 Monday 11 February 2008
By: Nicholas Paler, Investment Reporter

Baring Asset Management is planning to expand its range of China funds by launching a China Growth and a China Select fund.

The China Growth fund, structured as a UK domiciled investment company with variable capital (ICVC), will be headed up by managers William Fong and Agnes Deng, members of Barings' Hong-Kong based Asia Pacific team.

The same duo will also head up the Select offering, an Irish Domiciled OEIC.

Both funds will be actively managed and comprise the pair's best ideas, with Fong and Deng buying companies across the whole market cap spectrum.

Fong said: 'Despite recent market turmoil, we believe China and its related markets will continue to be strong drivers of global growth and highly resilient economies, and in our opinion the sell-off has created many attractive investment opportunities.'

He added that the two funds were flexible, given that they could invest across the full China-related investment universe.

Barings' marketing director, Ian Pascal, said: 'The establishment of a UK fund will, we hope, prove very attractive to UK investors, given our credentials in this area.'

Fong and Deng already run the firm's Baring Hong Kong China fund, launched in 1982, which has delivered an annualised return of 21.6%.

Subject to regulatory approval, the new funds are scheduled to launch in May.

       
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