Old Mutual Asset Managers is offering a UK opportunities fund managed by Simon Murphy.
The Ucits fund is scheduled for launch in the fourth quarter of the year and will be domiciled in Ireland. The UK opportunities fund will use a multi-cap investment approach incorporating top-down market views and bottom-up analysis.
Minimum investment is £1,000 and annual charge is 1.5 per cent. The fund will be in the IMA specialist sector.
A performance fee of 15 per cent will be based on performance relative to six-month Libor interest rates.
Murphy is head of Omam’s UK large cap team and manager of the £90m UK select equity fund.
He says: “I believe the UK equity market currently offers investors attractive opportunities, albeit with high degrees of volatility, given the uncertain economic background.
“Many stocks are significantly undervalued at current levels and the Old Mutual UK opportunities fund, being a long/short Ucits fund, will aim to maximise the upside potential while also mitigating volatility risk.”