OLD MUTUAL GLOBAL INVESTORS MOVES EMERGING MARKETS EX ASIA MANDATE ‘LOCAL’ BRAZILIAN AND EMERGING EUROPE SPECIALISTS APPOINTED TO MULTI ASSET FUND
Old Mutual Global Investors announces the appointment of two new specialist emerging markets investment management boutiques to manage the Emerging Market ex Asia exposure across its £5 billion multi asset portfolios, which includes the Old Mutual Spectrum, Voyager and Generation fund ranges. The Emerging Market ex Asia mandates are part of the Old Mutual Voyager Global Dynamic Equity Fund (‘the Fund’), managed by François Zagamé, which is used across all of the multi asset funds to house the global equity mandates.
Both of the following newly appointed boutiques operate locally in the emerging markets in which they individually specialise:
· Jardim Botânico is a Rio de Janiero based, employee-owned, investment management boutique which follows a value orientated approach based on thorough fundamental research and is focused exclusively on Brazilian companies. The three senior partners each have between 20 and 30 years of experience of investing in the local financial markets. This team has been allocated a £53 million mandate.
· Renasset is a boutique with investment capabilities throughout Emerging Europe. The Renasset team believes that this region harbours many an inefficiency and therefore offers many an investment opportunity if researched thoroughly. Plamen Monovski, Lead Fund Manager, follows a value based contrarian approach and also makes use of a high level of macro awareness, which is critical in the Emerging Europe region. This team has been allocated a £72 million mandate.
François Zagamé, Portfolio Manager of the Fund and member of Old Mutual Global Investors’ highly respected Multi Asset Team, comments: “We are excited to have appointed two specialist emerging markets investment boutiques that each offer a unique investment skill set. Our approach tends to favour local insight and expertise and we believe that we have now identified two outstanding local players with a very strong competitive advantage in their respective markets.
“The Emerging Market ex Asia exposure had been managed by Henderson since the inception of the Fund in April 2009. The team at Henderson did an outstanding job and the decision to opt for this new dual structure, as opposed to a single manager approach, has not been an easy one. We would like to take this opportunity to thank Henderson for their input over the last five years.”
With assets under management of £1.2 billion¹, the Fund aims to provide long-term capital growth predominantly through investment in global equities. The Fund will invest directly in securities or through collective investment schemes in order to give exposure to a diversified portfolio predominantly investing in global equities. The Fund may have exposure to cash, near cash, money market instruments, permitted deposits, and securities. The Fund may also invest up to 10% of its property in collective investment schemes including those that are managed or operated by the ACD or an associate of the ACD. The Fund may also invest directly in derivative instruments and forward transactions for the purposes of investment or efficient portfolio management. Forward transactions may also be used with the aim of reducing currency risk for currency hedged share classes.
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.
¹ As at 29 August 2014 *as at 30 June 2014
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. Old Mutual Global Investors is the trading name of Old Mutual Global Investors (UK) Limited, Old Mutual Fund Managers Limited and Old Mutual Investment Management Limited. Old Mutual Global Investors (UK) Limited is registered in England & Wales under number 02949554, Old Mutual Fund Managers Limited is registered in England & Wales under number 01825772 and Old Mutual Investment Management Limited is registered in England & Wales under number 4227837. Authorised and regulated by the Financial Conduct Authority with FCA register numbers 171847, 1193240, 208543 respectively, VAT number 386 1301 59. OMGI 10/14/0073.