Old Mutual Global Investors brings emerging market debt fund in house


Old Mutual Global Investors brings emerging market debt fund in house

John Peta to take over as Fund Manager

Old Mutual Global Investors (“OMGI”), part of Old Mutual Wealth, has today announced that John Peta, Head of Emerging Market Debt, will take over as fund manager on the US$168 million¹ Old Mutual Emerging Market Debt Fund (“the Fund”), effective from 21 January 2016, subject to regulatory approval.

The Fund, which is currently sub-advised by Stone Harbor Investment Partners LP (“Stone Harbor”), is a sub-fund of the Dublin domiciled Old Mutual Global Investors Series. Its objective, to achieve asset growth through investment in a well-diversified portfolio of fixed and variable rate debt securities issued in emerging markets, will remain unchanged.

OMGI believes investors in the fund will benefit from John’s wealth of emerging market debt investment experience.  He joined the business in March 2015 and has managed the US$115 million¹ Old Mutual Local Currency Emerging Market Debt Fund since April 2015. He started his career in fixed income in 1987 and has spent 18 years specialising in emerging market debt investing.

OMGI has also proposed a change to the investment policy of both the Old Mutual Emerging Market Debt Fund and the Old Mutual Local Currency Emerging Market Debt Fund. This change, which will be effective 21 January 2016, subject to regulatory and shareholder approval, will allow the manager to increase the use of derivatives.  OMGI believes this will benefit investors as there will be additional scope to hedge out and exploit areas of the market that are deemed unattractive or attractive, in order to meet the Funds’ investment objectives.

John Peta comments:

“I look forward to taking on the management of the Old Mutual Emerging Market Debt Fund and identifying areas for growth opportunities. As we move into 2016, I believe emerging market debt will be an appealing investment for those looking to benefit from attractive yields across various regions, including Asia, Latin America and the Middle East”

Warren Tonkinson, Managing Director, Old Mutual Global Investors comments:

“John Peta has a great deal of experience managing emerging market debt funds, which investors in the Old Mutual Emerging Market Debt fund are set to benefit from. By increasing his flexibility to use derivatives, John will have greater freedom in his portfolio management style; something we believe will deliver additional client value.

“I’d like to take the opportunity to thank Stone Harbor for their support in managing the fund until now.”

-ends-

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 billion².  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 billion² 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 October 2015

² As at 30 September 2015