Old Mutual Global Investors brings Investment Grade Corporate Bond Fund in house


Lloyd Harris named as lead manager

Old Mutual Global Investors (‘OMGI’), part of Old Mutual Wealth, has announced that it is bringing the management of the $25.6 million¹ Old Mutual Investment Grade Corporate Bond Fund (‘the fund’) in house.

The fund, which is currently managed by Rogge Global Partners plc (Rogge), will be insourced on 3 November 2016, subject to regulatory approval. Fund management responsibilities will be assumed by Lloyd Harris, manager of the Old Mutual Corporate Bond Fund at OMGI. Lloyd will be supported by co-manager Tim Barker who is head of credit at OMGI.

The fund’s objective, to seek to achieve income and capital growth predominantly through investment in a well-diversified portfolio of credit securities rated investment grade, will remain the same under the new portfolio management team.  The fund has exposure to the global credit market, distinguishing it from the Old Mutual Corporate Bond Fund, which primarily invests in corporate bonds issued in, or hedged back to, sterling.

Lloyd and Tim are highly experienced credit managers, having both joined OMGI in 2012. Lloyd has successfully managed the Old Mutual Corporate Bond Fund since December 2015. Tim has been head of credit at OMGI since December 2015 and currently co-manages the Old Mutual Monthly Income Bond Fund. 

The expansion of the fixed income capability under the leadership of OMGI’s head of fixed income, Christine Johnson, has fostered the development of a clear risk-focused process drawing on the different specialisms of the team, which allows the management of a greater number of funds within the framework.  OMGI believes that investors in the fund will benefit from the portfolio managers’ experience and the depth of knowledge of the wider fixed income team (‘the team’).  The team enjoys a shared philosophy, working together to gather a holistic view of the fixed income universe, acknowledging the growing interconnectivity of markets.

Lloyd Harris comments:

“As a team we have expertise and experience in managing credit portfolios of blue-chip multinationals.  We will transfer this expertise to the management of the Old Mutual Investment Grade Corporate Bond Fund by utilising all the opportunities on offer in global investment grade credit.

“Now, more than at any other time, we believe it is crucial to get geographic credit allocation correct, as central banks around the world diverge in terms of monetary policy. Working with our colleagues from across the desk, Tim and I will aim to add value for clients by identifying the best investment grade corporate bonds to deliver long-term value.”

Warren Tonkinson, managing director, OMGI comments:

“We’ve been expanding our fixed income proposition under the leadership of Christine Johnson for the last year, including boosting the team with senior hires and promoting internal talent. We now manage a suite of products covering government bonds, emerging market debt and the global credit market.  We believe that investors in the Old Mutual Investment Grade Corporate Bond Fund are set to benefit from Lloyd and Tim’s extensive knowledge and experience.

“We’d like to thank Rogge for managing the fund up until now.”

¹ As at 31 August 2016

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Media Contacts:

Kimberley Robinson|020 7332 7687

Notes to editors:

Old Mutual Global Investors:

Old Mutual Global Investors has grown strongly since its creation in August 2012 and now has assets under management of £27 billion (as at 30 June 2016).  The team consists of 273 industry professionals, including a team of 69 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 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 & Italy 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 £111.2 billion in customer investments (as at 30 June 2016).

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 £342.7 billion assets under management (as at 30 June 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.