Baring gets the boot from Bank of Bermuda

Bank of Bermuda has dropped Baring from its $1 billion multi-manager investment service for underperformance.

Baring Asset Management's UK equity team may have little to celebrate this festive season - by Christmas Eve the manager would have been sacked for one month to the day from a $1 billion multi-manager investment service operated by Bank of Bermuda BoB.

The bank held a roadshow in Hong Kong two months ago promoting the 18-month-old investment service to institutional and high net worth investors.

Until November 24, Baring was one of 11 managers for BoB's All Points Multi-Manager investment service, managing a Ăș23.8 million $35 million equity portfolio. As at November 30, the manager underperformed its benchmark FTSE All-Share index by more than 8% since the launch of...

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