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Schroders replaces First State Stewart in Old Mutual Voyager Global Dynamic Equity

Parbrook Robin Schroders
Schroders’ Robin Parbrook

Francois Zagamé has brought in Schroders’ Robin Parbrook and his team to manage part of the Old Mutual Voyager Global Dynamic Equity fund’s Asia allocation.

Parbrook has replaced the First State Stewart team, which managed almost 7 per cent of the £1.2bn portfolio. The Old Mutual Voyager Global Dynamic Equity fund is run on a manager of managers’ approach.

Zagamé says: “The addition of Robin Parbrook and his team will provide a way to provide us with exposure to a fundamentally driven manager with extensive knowledge of the region.

“The core focus on quality businesses with the pragmatism to invest in value opportunities where they exist will enable Robin and the team to exploit the substantial alpha potential across these styles.”

He also thanked First State Stewart’s contribution to the portfolio, noting that the team has added “significant alpha” to the fund since the initial investment in 2009.

According to FE Analytics, the fund has underperformed the IMA Global peer group over one and three years. However, it has outperformed since launch in March 2009, returning 74.52 per cent against the sector’s 67.13 per cent average gain.

Parbrook says: “We are pleased to have been selected by François and his team for their portfolio.

“Having spent several months participating in their stringent due diligence process, it is reassuring to receive the stamp of approval. We now look forward to working with the team.”

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