Ng was appointed in January 2010 as part of a plan to drive its Asian business “to the next level”. As it restructured, he was also made responsible in July that year for the management of the Baring Eastern Trust and Baring Asia Growth funds when Henry Chan left his position as head of Asia Pacific investments.
In the past three years the £36m Eastern Trust has returned 4.9% compared to its benchmark, the MSCI Asia ex Japan index, of 8.5%. So far this year Ng has delivered 2% against an index return of 6.1%.
Over the same time period, the $97m Irish-domiciled Asia Growth fund has returned 3.2% compared to the same benchmark.
Hyung Jin Lee, currently manager of the £159m Baring Korea Trust, is to take over Ng’s role as head of Asian equities as well as the management of his two funds.
A spokesperson confirmed there are no plans to recruit a replacement for Ng at this stage as there is enough expertise already within the 16-strong Asian equity investment professionals the firm has based in Hong Kong.
