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Aravind Vidyadharan

BARING International Fund Managers has been judged the best Large Fund Management group over the past three years.

  Mr David Brennan, managing director of Baring International Fund Managers, said it emerged as the best fund management group because it emphasised a team approach to fund management, as opposed to individual investment strategies.

  ''Though we do have a high degree of specialisation among our staff, everyone works as a team,'' he said.

  ''There are teams based in London, Hongkong and Tokyo, which have developed regional products, to cater to the different sectors.''   The long-term global investment strategy of Barings International Fund Managers is devised in London, and then the various teams in the regional centres consider the changes to that strategy and how best to play them.

  Baring has 90 professional investment strategists worldwide, with 10 based in Hongkong. Another seven operate out of Tokyo.

  ''Worldwide, Baring combines a top-down macro-economic view when it comes to the allocation of assets along with a bottom-up micro view regarding the actual selection of stocks,'' Mr Brennan said.

   ''For the last three years, in Asia, Baring has been under-weighted in Japan and this is likely to continue in the near future,'' Mr Brennan said.

  ''We are keen on Southeast Asia.''   In Europe, Mr Brennan said, the funds favoured France and Switzerland, rather than Germany.

  He said the company was over-weighted in North America.

  ''And we are seriously looking at the Latin American markets as well,'' he said.

  Baring had 41 funds worldwide, all pitched at retail investors, out of which 12 were authorised for promotion in the territory.

  The group has US$30 billion under management worldwide.

  The regional breakdown is US$2.5 billion out of Tokyo and US$4 billion out of Hongkong.

  Baring's Japan New Generation fund, launched on May 24, 1986, has topped the Japanese Equities category for the past three years.

  Managed from Tokyo, the size of the fund is US$13.56 million.

  ''The investment strategy is under-weighted in financial services and real estate sectors [4.3 per cent], as these are over-valued,'' Mr Brennan said.

  The focus of the New Generation fund is on consumer products and services (41.3 per cent) and capital goods (18.7 per cent).

  ''The capital goods sector will be a beneficiary of the Japanese Government's increase in capital expenditure,'' Mr Brennan said.

  ''The consumer goods sector will benefit from an increase in disposable income among the Japanese and the shift in the country from a nation of savers to high spenders.''   Due to the weak market, there is a significant cash position of 10.2 per cent in the fund.



Barings the best