Now called the Baring Dynamic Capital Growth Fund, the change was made on 1 November, and aims to make the fund more attractive to pension scheme members.
It continues to be managed by Alison Huang, who took charge of the Portfolio Fund in February 2012, but the change allows the fund manager to respond more efficiently to the economic environment and better manage market risk while achieving cost-effectiveness. It also gives the fund increased exposure to pooled investment schemes such as index tracking and ETFs.
The new fund will also have a lower fee structure, a feature the group said will be attractive to members of pension schemes that are subject to the 2014 Budget rule changes, due to take effect in April 2015.
It will still be on the wholesale platforms that the Portfolio Fund was on, and will also be promoted in the institutional space to consultants and DC pension schemes.
The Dynamic Capital Growth Fund uses 3-month LIBOR+3% as a performance comparator to stay below an equity risk ceiling of 80%. It will invest directly and indirectly in equities, fixed income securities, money market instruments, commodities and cash.
