OLD MUTUAL GLOBAL INVESTORS LAUNCH PAN AFRICAN FUND
LONDON, 04 November 2014
Old Mutual Global Investors launch Pan African fund
Old Mutual Global Investors today announced the launch of the Old Mutual Pan African Fund (‘the Fund’). The Fund will be managed by Cavan Osborne, supported by Peter Linley, of Old Mutual Investment Group (Pty) Limited, a South African partner company of Old Mutual Global Investors.
Osborne and Linley are part of a 17 strong team based in Cape Town. This team includes 12 analysts, all of whom are either country or sector specialists. Osborne was named Best African Fund Manager by African Investor in September 2014 for his management of Old Mutual Investment Group’s existing African capabilities which are available for South African investors. The existing Old Mutual Pan African Fund has US$11.75 million AUM (as at 30 September 2014) and has delivered annualised US$ net returns of 13.4%* over the past three years.
The Fund, which is suitable for clients looking to invest over a five to seven year period, aims for long-term capital growth by investing in companies that benefit from economic developments and growth across the African continent. This includes those listed on regulated African stock markets and other global markets, where more than 50% of their revenue or profit comes from Africa. The Fund will invest in approximately 30 to 40 stocks and will be seeded with US$ 50 million.
Cavan Osborne, comments on the opportunities for investors in the new fund:
“We believe that now is an excellent time for investors with a slightly higher appetite for risk to invest in Africa. The continent provides a diverse range of investment opportunities and is currently going through a massive growth period with economic forecasts suggesting there are good returns to be had over the next few years.
“At Old Mutual Investment Group our focus is to identify those companies that we believe will benefit from growth in Africa, building a diverse investment portfolio that will deliver long-term capital growth for investors.”
Julian Ide, CEO, Old Mutual Global Investors adds: “This is an exciting development for Old Mutual Global Investors as it is the first time that we have collaborated with our colleagues in South Africa to launch a fund for a global client base. We are committed to ensuring our fund range offers a variety of asset classes and approaches for clients. We believe that there are excellent investment opportunities to be found within Africa and our new Fund will offer clients access to the top talent in the industry.”
*Data from Morningstar for September 2014
Amelie Shepherd, PR Executive + 44 20 7 332 8345
Vee Montebello, Head of PR and Internal Communications + 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 is a leading retail investment business in the UK and internationally. It aims to help people who want to make a positive change for themselves, those close to them or the society they live in by helping them 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 Skandia International globally
- Asset management solutions via Old Mutual Global Investors
Old Mutual Wealth currently oversees £80.3* 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 £300.5bn* assets under management.
*as at 30 June 2014
Old Mutual Investment Group
One of Africa’s largest asset management groups, Old Mutual Investment Group’s multi-boutique, high-performance investment environment offers investors access to a comprehensive offering of investment solutions across the risk/return spectrum. With over R574bn assets under management, our investments range from pure equity, asset allocation, fixed income and index-tracking investments to alternative assets such as property, private equity, infrastructure and socially responsible investments (SRI). Our investment professionals are supported by a world-class trading desk as well as legal, risk and compliance services, freeing them to focus purely on delivering superior investment returns for clients. Our global reach via our UK-listed parent company Old Mutual Plc., which operates in five continents across emerging and developed markets, provides access to international investment expertise and global best practice. We currently have a BBBEE rating of level 2.
Important information: Past performance is no guarantee of future results. The value of an investment and the income from it can fall as well as rise and investors may not get back the amount originally invested.
This communication is issued by Old Mutual Global Investors (UK) Limited (trading name Old Mutual Global Investors), which is a member of the Old Mutual Group. 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 Conduct Authority (“FCA”) with FCA 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. OMGI 10/14/0194