Baring targets pension fund interest in pooling
Baring Asset Management (BAM) has launched a series of unit linked life funds to complement its existing OEIC range and to help occupational DC and DB schemes interested in investing in pooled funds.
In order to provide a tax efficient structure Barings has opted for a life company and in conjunction with Nationale-Nederlanden, a fellow member of the ING Group,
has opened a branch office in the UK.
The new investment vehicle will provide a life company wrapper for the overseas equity and bond OEIC sub funds and for Barings' cash unit trust.
In addition it provides a range of directly invested UK equity life funds and balanced and global equity funds.
Nationale-Nederlanden has delegated the
day-to-day management of the funds to Barings.
Using an intermediary life assurance company is advantageous, according to Barings, in that it provides a simple gross pricing of funds, investment
management fees are VAT exempt and fund structures are flexible while being tax and stamp duty efficient.
"From an investment perspective, the underlying funds in the OEIC umbrella and the directly invested UK equity funds are designed to mirror the investment process and guidelines used in the management of our segregated
pension portfolios," says Keith Thomas, head of UK institutional pooled funds at BAM