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Baring Asset Management To Launch Chinese Hedge Fund

by Carla Johnson, Investors Offshore.com

08 June 2004

Baring Asset Management has announced plans to capitalise on the growth of the Chinese market by launching a new single strategy hedge fund with a focus on stocks linked to Greater China.

The Baring China Absolute Return Fund will utilise a long/short equity strategy and focus on between thirty and forty stocks that are either listed in China or have a significant level of exposure to the mainland.

The fund will be domiciled in Hong Kong and the firm said that it is aiming for annual returns of between 15% and 25% in a bid to emulate the performance of the Baring Hong Kong China Fund which has produced annual returns of 20% for the last five years.

The minimum investment in the new fund, which is to be launched later this month, will be US$150,000 or EUR125,000. The fund will close when the total investment reaches US$200 million.

BAM’s Asia fund of funds, launched in May 2003, has so far raised US$80 million and produced a return of 23.4%.

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