J Paul Getty Jr. Charitable Trust has awarded a £20 million ($32 million) balanced charity mandate to Baring Asset Management, with an objective of outperforming the WM Unconstrained Charity Median by 1.5% a year, said Patrick Seth, head of charities at Barings.
Neither the Trust nor Barings would say who previously managed the mandate. Mercury Asset Management runs the balance of the £40 million fund.
The trust is a London-based grant-making charity.
It was advised by Bacon & Woodrow.
