Baring Asset Management (BAM) has appointed Mike Young as Assistant Director Business Development for the Middle East.
Young, who joined BAM on Monday 27 February and is based in London, is responsible for growing Barings' mutual fund and hedge fund business in the Middle East.
The appointment comes after a year in which Barings' long only equity funds performed strongly and which saw the launch of long short hedge funds investing in Japan and EMEA. The Baring Europe Middle East Africa (EMEA) Absolute Return Fund, which launched in November, returned of 15.69 per cent during its first quarter, and is on track to deliver target net returns in the region of 20 per cent+ per year, with annualised volatility of around 15 per cent.
Young has ten years' experience in investment sales, both in the UK and the Middle East, gained most recently at Cofunds and Legal & General Investment. Prior to that, he spent almost five years at Invesco Asset Management, where he focused on Middle Eastern business. Based in Dubai he also worked with clients in Qatar, Kuwait, Bahrain, Oman, Abu Dhabi, Lebanon and Pakistan
'I'm delighted to welcome Mike to the team and excited about providing clients in the Middle East with more visibility of our service and offshore funds, both long-short and long-only products,' says Richard Graham, Head of Institutional Business at BAM. 'We have a strong history of working for clients in the Middle East on a segregated portfolio basis. Mike's appointment will significantly boost our ability to share investment expertise with clients investing in our funds.'
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