Old Mutual Global Investors adds global emerging markets equity capability with trio of hires


Old Mutual Global Investors adds global emerging markets equity capability with trio of hires

Old Mutual Global Investors (‘OMGI’), part of Old Mutual Wealth, is pleased to announce the appointment of Nick Payne, Salman Siddiqui and Liz Fernandes, to form the business’s new global emerging markets equity desk.

Headed by Nick, the team has over 40 years of combined experience in researching and managing global emerging markets and frontier equity investments. The trio join OMGI from Nomura Asset Management, where they worked together for three years, most recently on the Nomura Global Emerging Markets Equity Fund. Nick will report to OMGI’s CEO, Richard Buxton.

Subject to regulatory approval, OMGI are set to bring the management of the Old Mutual Global Emerging Markets Fund (the ‘fund’) in-house. The US$244.6m1 fund which is currently managed by Fisher Asset Management, LLC, will be insourced on 21 July 2017, and fund management responsibilities will be assumed by Nick, Salman and Liz.

The fund’s objective will be unchanged; however, following the change of investment adviser, OMGI intends to reduce the fund’s annual management fee.

OMGI believes this change is in the best interests of clients, who will benefit from Nick, Salman and Liz’s proven approach to investing. Looking ahead, it is OMGI’s intention that the fund will be run as a highly active, concentrated portfolio, aiming to reduce holdings to around 30-40 stocks.

With a focus on stock selection, the team will use a ranking screen to narrow the large universe of available stocks, allowing them to identify quality companies, at reasonable valuations, from across emerging and frontier economies. The team will use a fundamental research-based approach with a long-term view. Further, they will incorporate a macro view, analysing the principal economic, currency and political risks of the day, and using these findings to influence the fund’s positions.

Richard Buxton, CEO, OMGI comments:

“We are thrilled that Nick, Salman and Liz are joining OMGI to establish our global emerging markets desk. Having worked together for a number of years, they have developed a proven investment process, achieving returns from an asset class that is often underrepresented in investors’ portfolios.  

“Clients in the Old Mutual Global Emerging Markets Fund are set to gain from the oversight of this experienced team, benefiting from their extensive market knowledge and established approach to running flexible and unconstrained portfolios.

“I’d like to thank Fisher Asset Management for their management of the fund over the last six years.”

Nick Payne, head of global emerging markets, OMGI, added:

“With over four decades of experience in emerging market equities between us, we have experienced multiple market cycles.

“After five years of negative emerging market returns, driven by poor corporate earnings, we believe we have now seen emerging market equities bottom out. With signs of attractive valuations, and renewed growth in corporate profitability, we perceive significant opportunities to generate positive returns from emerging market equities.

“I am confident that, as a team, we will add value for OMGI’s clients.”

-ENDS-

Notes to Eds:

1As at 31 May 2017

Biographies:

Nick Payne

Nick Payne joined OMGI in June 2017 as head of global emerging markets.  He previously worked at Nomura Asset Management from 2014. In 2015 he was appointed head of emerging and frontier equities at Nomura, as well as taking on lead management responsibilities on the Nomura Global Emerging Markets Equity Fund. Nick started his career as a graduate trainee at Kleinwort Benson in 1996, where he went on to become an analyst, then portfolio manager in the emerging markets team. In 1999 he joined Rexiter Capital Management as director, head of Latin America. He has over 20 years’ experience in emerging and frontier market equity management. 

Salman Siddiqui

Salman Siddiqui joined OMGI in June 2017 as a portfolio manager in the global emerging markets equity team.  Prior to this he was at Nomura Asset Management from 2007, where he worked as an equity analyst until he was appointed as a fund manager in 2009. During his time at Nomura, he took on fund management responsibilities for a number of strategies including: the Nomura Arabian Fund, the Nomura Turkey Fund, the Nomura Africa Fund and the Nomura Frontier Fund. He has 16 years’ experience, having started his career as a capital markets analyst at Citigroup in 2001. 

Liz Fernandes

Liz Fernandes joined OMGI in June 2017 as a portfolio manager in the global emerging markets equity team. She joined from Nomura Asset Management where she worked for five years as part of its global emerging markets equity desk.

Old Mutual Global Investors

Old Mutual Global Investors has grown strongly since its creation in August 2012 and now has assets under management of £34.6 billion (as at 31 March 2017).  The team consists of 286 industry professionals, including a team of 67 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 a leading wealth management business in the UK and internationally, helping to create prosperity for the generations of today and tomorrow.

It has an adviser and customer offering spanning:

  • Financial advice delivered by the Intrinsic network in the UK and AAM Advisory in Singapore
  • Platform based wealth management and protection products delivered by Old Mutual Wealth in the UK and Old Mutual International globally
  • Asset management solutions delivered by Old Mutual Global Investors
  • Discretionary investment management delivered by Quilter Cheviot.

Old Mutual Wealth oversees £122.2 billion in customer investments (as at 31 March 2017).

Old Mutual Wealth is part of Old Mutual plc a FTSE 100 group that provides life assurance, asset management, banking and general insurance. Old Mutual is trusted by more than 19.4 million customers across the world and has a total of £394.9 billion of assets under management (as at 31 December 2016).This press release is for journalists only and should not be relied upon by financial advisers or customers. Investments may fall or rise in value and investors may not get back what they put in.