JOSHUA CRABB TO JOIN AS HEAD OF ASIAN EQUITIES SUPPORTED BY KRIS WHITLOCK AND DMITRY LAPIDUS
Old Mutual Global Investors is delighted to announce that Joshua Crabb will join the business on 1 October 2014 as Head of Asian Equities. Joshua will start at Old Mutual Global Investors (UK) Limited in London and expects to return to Hong Kong to work for Old Mutual Global Investors (Asia Pacific) Limited when required regulatory approvals have been received. Joshua will be supported by a new team of two dedicated analysts, Kris Whitlock and Dmitry Lapidus, who will both join the business on 22 September 2014.
Old Mutual Global Investors has been transformed since its launch two years ago and is now recognised as a modern asset management business, focussed on generating positive customer outcomes, strong sales and sustainable profits for Old Mutual Wealth. Old Mutual Global Investors is building a strong UK presence to achieve a top 5 position in the market. Its strategy is also to expand into selected markets to support its global client base, through asset management and distribution capabilities based in chosen international markets. This follows the hiring of Carol Wong and her team based in Hong Kong.
Old Mutual Global Investors is an investment focused business which strives to provide the very best investment talent and performance to clients. The business plans to grow its market share through investing in existing core investment skills and expanding capabilities where they are complementary to the business’s culture and focus.
From the outset, Old Mutual Global Investors has retained and attracted the best investment talent offering: compelling and reputable investment processes and track records; ‘star’ quality; strong cultural fit within the business and incremental distribution benefits. The appointment of Richard Buxton and his team in June 2013, as well as the hiring of Joshua, Dmitry and Kris, demonstrates Old Mutual Global Investors’ delivery against its ambitious plans.
Reporting to Julian Ide, CEO of Old Mutual Global Investors, Joshua will lead the development of the Asian equities product range. With effect from 15 October 2014, the team will manage two funds, the $270 million+ Old Mutual Pacific Equity Fund and the $40 million+ Old Mutual Asian Equity Fund, sub-funds of the Dublin domiciled Old Mutual Global Investors Series plc umbrella fund. These products will be core to Old Mutual Global Investors’ UK and offshore client base.
Julian Ide, CEO of Old Mutual Global Investors, comments: “I am delighted that Joshua, Dmitry and Kris have agreed to join us. I believe these to be terrific appointments. Hiring such a high profile, high performing alpha manager clearly demonstrates Old Mutual Global Investors is an attractive destination for top talent. Joshua is a successful, articulate, ambitious and highly intelligent investment professional, someone that I consider to be today’s and tomorrow’s generation of powerful fund management professionals. He will strongly support our strategy of focusing on Global Financial Institutions, supported by our Latin America, Europe and Asian distribution teams.”
Julian Ide concludes: “I think that this news will be very exciting for our clients. We are designed for a changing world, allowing each fund manager to invest decisively with no house style. I believe that this gives our fund managers the freedom they need to perform, to seize opportunities in a changing global economy and do what they do best – deliver better investment solutions.”
Joshua Crabb - biographical details:
Joshua has an investment career which spans over 18 years, including working with BlackRock in Hong Kong since 2007. He previously worked for Prudential Asset Management in Hong Kong and Bankers Trust in Sydney. Joshua will start at Old Mutual Global Investors (UK) Limited in London and expects to return to Hong Kong to work for Old Mutual Global Investors (Asia Pacific) Limited when required regulatory approvals have been received. He will be supported by two dedicated analysts, Dmitry Lapidus and Kris Whitlock.
Joshua has an excellent track record. His BlackRock Global Funds Asia Pacific Equity Income fund returned 59.5% since inception (18 September 2009) until end-June 2014, when Joshua ceased to have responsibility for the fund. This compares to a return of 39.6% for the fund’s benchmark, the MSCI AC Asia Pacific ex Japan and 35.5% for the peer group, the LM Equity Asia Pacific ex Japan, over the same period1 . The Fund has a four-star rating with Morningstar and Joshua was AA-rated by CityWire as at September 2014. In June 2014, Joshua was awarded the Long-Only Equity Fund Manager of the Year Award – All Cap at the Asset Asian Awards 2014.
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Head of PR and Internal Communications, London + 44 20 7 332 7687
Notes for 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 £17 billion*. The team consists of 183 industry professionals, including a team of 48 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, comprising Skandia and Old Mutual Global Investors, provides wealth management solutions such as investments, pensions and life assurance to help financial advisers manage their clients’ wealth. The business currently oversees £80.3 billion* in customer investments and has operations in the UK, Continental Europe and various international markets. Its strategy is to combine asset management with product and platform expertise, in order to grow further as a modern, integrated wealth management business that enables positive futures for its customers.
Old Mutual Wealth is a core part of Old Mutual plc, a leading international long-term savings, investment and protection Group. Based in London, it is trusted by more than 16 million customers across the world. For over 169 years, it has been serving the growing insurance and investment needs of local customers, companies and their advisers. Old Mutual’s vision is to become its customers’ most trusted partner, being passionate about helping them achieve their lifetime financial goals.
*as at 30 June 2014
+ as at 31 July 2014
1) since inception (18 September 2009) until end-June 2014 *Performance data, FE Analytics, return gross of tax, bid to bid, in US dollars
Please remember that past performance is not a guide to future performance. Investment involves risks. The value of investments and the income from them can go down as well as up and investors may not get back any of the amount originally invested. Exchange rate changes may cause the value of overseas investments to rise or fall.
Issued by Old Mutual Global Investors (UK) Limited (trading name, Old Mutual Global Investors), a member of the Old Mutual Group, outside Hong Kong. Old Mutual Global Investors is registered in England and Wales under number 02949554 and its registered office is 2 Lambeth Hill London EC4P 4WR. Old Mutual Global Investors is authorised and regulated by the UK Financial Services Authority (“FSA”) with FSA register number 171847 and is owned by Old Mutual Plc, a public limited company limited by shares, incorporated in England and Wales under registered number 3591559.
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This communication provides information relating to a funds known as The Old Mutual Asian Equity Fund and the Old Mutual Pacific Equity Fund (the “Funds”), which are sub-funds of Old Mutual Global Investors Series plc. The Old Mutual Asian Equity Fund is not authorised by the Securities and Futures Commission in Hong Kong and is not available to retail investors in Hong Kong. OMGI 09/14/0057.