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Omam postpones launch as Kerr reduces work commitments

Old Mutual Asset Managers has postponed the launch of its UK specialist absolute return following the announcement that Luke Kerr is reducing his work commitments for a few months to focus on his health.

Ashton Bradbury, the head of equities has taken over as interim manager of Kerr’s dynamic equity return fund and the specialist equity hedge fund.
Bradbury was the manager of the specialist equity fund from launch in March 2003 to December 2008 and deputy manager of the dynamic equity fund from launch in July 2005 to June 2009.

Omam says it still intends to launch the UK specialist absolute return fund as at a later date. It was due to launch in May.


Govt trebles cost of pension tax changes

Chancellor Alistair Darling has trebled his estimate of the one-off costs that pension schemes, employers and individuals will incur as a result of the tax on higher earners’ pension contributions.


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