OMGI confirms launch of offshore Global Equity Income Fund


Old Mutual Global Investors confirms launch of offshore Old Mutual Global Equity Income Fund and closure of onshore O’Shaughnessy managed fund

Old Mutual Global Investors has confirmed that the offshore Old Mutual Global Equity Income Fund (the “Fund”), managed by Ian Heslop, Amadeo Alentorn and Mike Servent has now launched. The Fund is a sub-fund of the Dublin domiciled Old Mutual Global Investors Series plc umbrella fund.

The Fund has been developed in response to client demand for an income generating product managed by the award winning Old Mutual Global Investors Global Equity Team. The Fund is designed to service Old Mutual Global Investors’ UK and offshore client base and targets a total return through a combination of income and capital growth, with a monthly income targeted at 30% above that of the benchmark (MSCI All Countries World Index).

Old Mutual Global Investors has also confirmed today that it has notified investors in the £38.8m¹ onshore Old Mutual Global Equity Income Fund, sub-advised by O’Shaughnessy Asset Management (“O’Shaughnessy”),  that it will be closing that fund on 15 September 2015, subject to regulatory approval. The O’Shaughnessy managed fund is a sub-fund of the Old Mutual Balanced Funds ICVC. 

This onshore fund has seen a gradual decline in assets over the last few years. Given the small size of this fund and the associated operating costs, Old Mutual Global Investors believes that it is no longer in the best interest of clients to continue running this fund and that investors will be best served by having their proceeds returned in order for them to reinvest in other products.

Warren Tonkinson, Managing Director at Old Mutual Global Investors, comments:

“We’ve experienced a high level of client demand for an offshore global equity income fund managed by Ian Heslop and his team. We are delighted that this fund is now live and will become a core part of our global fund range, available to both UK and offshore investors.

“We believe our decision to close the onshore Old Mutual Global Equity Income Fund is in the best interest of investors. Clients have been informed of our decision to close this fund and of the options available to them. We would like to thank O’Shaughnessy for their management of the fund.”

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¹ AUM as at 30 June 2015

Media Contacts:

Amelie Shepherd    020 7332 8345

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 £22.4 billion¹.  The team consists of 230 industry professionals, including a team of 59 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 people secure their financial future.

It has an adviser and customer offering spanning:

•             Financial advice via the Intrinsic network

•             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 oversees £101 billion¹ in customer investments. 

Old Mutual Wealth is part of Old Mutual plc, a FTSE 100 group that  provides investment, savings, insurance and banking services to more than 17 million customers in Africa, the Americas, Asia and Europe. Originating in South Africa in 1845, Old Mutual has been listed on the London and Johannesburg Stock Exchanges, among others, since 1999.

In the year ended 31 December 2014, the Group reported adjusted operating profit before tax of £1.6 billion (on an IFRS basis) and had £319 billion of funds under management from core operations.

This press release is for journalists only and should not be relied upon by financial advisers or customers.