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Old Mutual considers fund of OM funds

Old Mutual Global Investors is considering the launch of a fund of Old Mutual funds.

Asked at an investor presentation this week whether Old Mutual Global Investors could expand its offering with multi-asset, chief executive Julian Ide said: “On the multi-manager desk the whole basis, philosophy and process is based around best of breed manager selection.

“There are a few of the UK managers within Old Mutual Global Investors already included in that programme, but it’s a very small number. We’re going to continue to preserve the offering in that way.

“There is no limit or base to how much, it’s a pure best of breed decision by the managers. It’s been very important to establish early on how that will continue.

“However, there is an opportunity to develop what we would call a fettered multi-asset capability just in Old Mutual Global Investors and the likelihood is, if we do that, we’re looking at some of our options at the moment, the pricing for that would probably be at a lower base.”

He added: “We already have a good track record in managing assets in that way [internally] and we’re looking at whether we can commercialise that with the Old Mutual Wealth team.”


Standard Life’s Nimmo: Mining supercycle is over

Standard Life head of smaller companies Harry Nimmo says the mining supercycle is over, which will have a knock-on effect on other sectors such as engineering. Nimmo, who runs the £1bn UK Smaller Companies fund, says he sold a 2.5 per cent position engineering company Spirax Sarco and reduced his position in engineeering firm Rotork […]

Advisers call for tougher scrutiny of FCA and PRA

Advisers have welcomed FSA calls for the Treasury select committee to have more power to scrutinise the new regulators, but are urging the Government to go further. Giving evidence to the Parliamentary Commission on Banking Standards this week, FSA head of prudential business unit Andrew Bailey said he wants an amendment to the Financial Services […]


Nick Kirwan leaves ABI following restructure

Association of British Insurers assistant director Nick Kirwan is leaving the trade body as part of an internal restructure, Money Marketing understands. It is understood that Kirwan (pictured), who is the ABI’s protection specialist, has already left the organisation and is on gardening leave. The trade body has confirmed it is carrying out a restructure […]

Artemis’ Derek Stuart says low growth will continue

Artemis UK special situations manager Derek Stuart says he is increasing his exposure to companies that are cash generative and can cut costs and pay down debt in the current low-growth environment. Stuart (pictured), who runs the £1bn Artemis UK Special Situations fund, says he does not expect growth to rise in the UK, US […]


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