Old Mutual Global Investors increase presence in Asia
Asian Equities Team officially based in Hong Kong
Old Mutual Global Investors is pleased to announce that the Asian Equities Team has received regulatory approval to operate from their Hong Kong office. This is the first time the business will have on the ground fund management capabilities in Asia.
Old Mutual Global Investors’ award-winning¹ Asian Equities Team was hired in autumn 2014 and consists of four members, Josh Crabb, Diamond Lee, Kris Whitlock and Dmitry Lapidus.
The Team runs three funds, the Old Mutual Asian Equity Fund² and the Old Mutual Pacific Equity Fund which are managed by Josh Crabb, who joined in October 2014 and the Old Mutual Greater China Equity Fund², managed by Diamond Lee, who joined the business in November 2014. The team now manages US $500 million³ in the region.
Old Mutual Global Investors, and its predecessors, have had a presence in Hong Kong for over 10 years. The business has expanded its Asian operations significantly in the last eighteen months, including the appointment of Carol Wong as Head of Distribution Asia in November 2013 and Simon MacKinnon as Asia Strategy Adviser, in February 2015. Old Mutual Global Investors also has a strong relationship with Capital Gateway, its Master Agent in Taiwan.
Julian Ide, CEO, Old Mutual Global Investors comments:
“This is a significant development for Old Mutual Global Investors. Now we offer local products to the local market in Asia, we can connect with clients in in a way we have not been able to before. This is an award winning team with an enviable track record, which I believe offer a compelling choice for investors.
“Asia is a very important market for us and we are committed to building our business in the region. Asian industry is leading the field of endeavour in many sectors and we are keen to learn what makes the market so special. We will use this knowledge to ensure we deliver upon our ambitious plans for the region.
“We are delighted to be investing significantly in our Hong Kong business. Outside the UK, this is our second home and we have ambitious plans. Whilst Asia has a very positive growth dynamic, we will also distribute our Asian capabilities across the globe and implement our learnings from the Asian business market widely.
“We have always believed in having and recruiting the best teams. This has helped us almost double our assets since we launched in 2012. Our objective in Asia is equally ambitious and we look forward to partnering with our clients and suppliers across the region in order to achieve great things.”
Josh Crabb comments:
“We are really pleased to now be officially based in Hong Kong. The Asian equities market is hugely diverse and offers a great deal of potential for clients. The local market is incredibly important to us and we are keen to build partnerships in the region, as well as develop our funds.”
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¹ Josh Crabb named as The Asset 2014 Asian Long-Only Equity Fund Manager of the Year – All-Cap. Diamond Lee named as Investment Week Fund Manager of the Year (Far East) 2001 and was also part of the Ignis Team that won the Active Asia-Pacific equity category at the Pension and Investment Provider Awards 2009.
² Old Mutual Asian Equity Fund and Old Mutual Greater China Equity Fund are not authorised by the Securities and Futures Commission in Hong Kong and are not available to retail investors in Hong Kong.
³ as at 31 March 2015
Amelie Shepherd, PR Executive 020 7332 8345
Vee Montebello, Head of PR and Internal Communications 020 7332 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 £21 billion*. The team consists of 214 industry professionals, including a team of 51 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 retail investment business in the UK and internationally that aims to help people secure their financial future.
It has an adviser and customer offering spanning:
- Financial advice via the Intrinsic network and independent financial advisers
- 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 currently oversees £82.5* billion in customer investments.
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 16 million customers across the world and has a total of £319.4 billion* assets under management.
*as at 31 December 2014