Old Mutual International has appointed GAM as investment adviser for its OMG Diversified Plus and Gr...
Old Mutual International has appointed GAM as investment adviser for its OMG Diversified Plus and Growth Plus multi-manager portfolios.
Both portfolios invest in equities, cash, property, alternative strategies and bonds.
While previous manager Gerrard is owned by Old Mutual, the group decided to switch managers following a decision for Gerrard to concentrate on its UK business.
Old Mutual International said it chose GAM to manage the two funds because the company is well known in the South African market and has a history of actively managing multi-manager funds across various multi-asset classes.
GAM is currently reviewing the funds in the two portfolios, a process that is expected to see the number of funds in each portfolio reduced to 25.
The asset allocation boundaries will also undergo some alterations. GAM is also in the process of undergoing regulatory approval so the two vehicles can be marketed to a wider range of markets.
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