Barings converts income fund to emerging market debt offering to meet rising demand

Barings is to convert its Emerging Market Income fund into an Emerging Markets Debt Local Currency fund to meet increasing investor demand for the asset class.

Barings will change the name and investment strategy of the $75.3m (£51.7m) Dublin-domiciled fund before soft-launching it on June 17. Emerging Market Income was originally launched in December 2006. The fund’s current manager, Ece Ugurtas, will be replaced by head of fixed income and currency Alan Wilde until a permanent manager is appointed. Ugurtas will focus on the $314.9m High Yield Bond fund, which she also manages. As of last month, Emerging Market Income already had 86.8% of its assets invested in local currency debt from Brazil, Hungary, Mexico, Poland, Indonesia and Turke...