Baring Global Bond rating suspended by Bestinvest
Bestinvest has suspended the rating on the £203.5m Baring Global Bond fund following the recent departure of the portfolio’s manager.
Colin Harte, manager of the Baring Global Bond fund, left the company after his £72.9m Barings Absolute Return Global Bond trust was merged into the Multi Asset fund.
The three-star Bestinvest rating formerly held by the Baring Global Bond fund has been suspended for the time being. The portfolio is now being managed by Dagmar Dvorak, previously co-manager.
According to the fund’s latest factsheet, the portfolio has returned 6.1% over three years, outperforming its benchmark’s 4.4%. The fund has slightly underperformed over five and ten years. (article continues below)
Baring Asset Management said earlier this week that there was “no longer a position” for Harte after the merger. Dvorak will also manage the Barings Absolute Return Global Bond trust.
The move was announced in January, after the company determined that the portfolio’s performance is likely to face pressure from economic volatility for the foreseeable future.
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