Old Mutual Asset Managers (Omam) is launching two equity funds, Old Mutual Dynamic Equity and Global Equity Absolute Return.
The absolute return vehicle will be managed by the group’s quantitative strategies team. It will aim for cash-plus returns through a portfolio of mid and large-cap global developed market equities.
The UK Dynamic Equity fund will be a focused best ideas long portfolio combined with opportunistic short positions. Luke Kerr, the manager of the UK Dynamic Equity hedge fund, will look for British equities from outside the FTSE 100. He will run the vehicle along the same lines as the hedge fund.
Both funds will be structured as Ucits III sub-funds of Old Mutual Dublin Funds. They do not currently have British distributor status and are awaiting regulatory approval. Minimum investment will be £1,000, with an annual management charge of 1.5% and a performance fee of 20%.