Old Mutual Global Investors adapts Chinese equity offering


Old Mutual Greater China Equity Fund to become Old Mutual China Equity Fund

Old Mutual Global Investors has today announced that the US$66.5m¹ Old Mutual Greater China Equity Fund (“the Fund”)  will become the Old Mutual China Equity Fund on 20 November 2015, subject to regulatory approval.

Going forward, the Fund, which is a sub-fund of the Old Mutual Global Investors Series plc, will have flexibility to focus more on equities related to mainland China, with the specific requirement that there must be a minimum exposure to Taiwan removed.

Old Mutual Global Investors believes this is beneficial to investors, as the fund manager, Diamond Lee, has the flexibility to invest in Taiwanese securities at his discretion and therefore can adjust as necessary to the constant changing dynamics of the market.

Additionally, the Fund will continue to be unconstrained by its index in order to maximise potential alpha generation, however to better reflect the amended mandate the benchmark index used for referencing long term performance will change from the MSCI Golden Dragon Index to the MSCI Zhong Hua 10/40 Index.

Diamond Lee comments:

“Following this modification to the Fund, I will have more flexibility to allocate investments across China, Hong Kong, and Taiwan.  I hope to add more value for clients by having greater freedom to focus on China, whose importance is only likely to rise in the long term.

“It is well known that the pace of Chinese growth is slowing down gradually, however we firmly believe this transition will offer a multitude of opportunities, as the economy transitions from investment to consumption led, and the growth engine switches from manufacturing to services. The Fund will continue to be managed in a focused, high conviction style.”

Diamond Lee has managed the Fund since January 2015. He joined Old Mutual Global Investors in November 2014 and is based in Hong Kong.

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Notes to editors:

Media contacts:

Amelie Shepherd 020 7332 8345

Vee Montebello 020 7332 7687

Old Mutual Global Investors:

Old Mutual Global Investors has grown strongly since its creation in August 2012 and now has assets under management of £22.2 billion¹.  The team consists of 230 industry professionals, including a team of 59 investment professionals. As part of Old Mutual Group it has a strong financial parent to support the activation of its business strategy. Old Mutual Global Investors is the asset management division of Old Mutual Wealth. To find out more information please go to:  www.omglobalinvestors.com

Old Mutual Wealth:

Old Mutual Wealth is the leading wealth management business in the UK and internationally, helping people secure their financial future.

It has an adviser and customer offering spanning:

•             Financial advice via the Intrinsic network

•             Platform based wealth management products and services via Old Mutual Wealth in the UK and Old Mutual International globally

•             Asset management solutions via Old Mutual Global Investors

•             Discretionary investment management via Quilter Cheviot

Old Mutual Wealth oversees £98.7 billion¹ in customer investments.

Old Mutual Wealth is part of Old Mutual plc, a FTSE 100 group that  provides investment, savings, insurance and banking services to more than 17 million customers in Africa, the Americas, Asia and Europe. Originating in South Africa in 1845, Old Mutual has been listed on the London and Johannesburg Stock Exchanges, among others, since 1999.

In the year ended 31 December 2014, the Group reported adjusted operating profit before tax of £1.6 billion (on an IFRS basis) and had £319 billion of funds under management from core operations.

This press release is for journalists only and should not be relied upon by financial advisers or customers.

¹ As at 30 September 2015