Old Mutual has completed its fund rationalisation programme, cutting the number of funds in it...
Old Mutual has completed its fund rationalisation programme, cutting the number of funds in its range from 42 to 26.
The exercise represents a tidying up of the group's fund range and will not affect Richard Woolnough's Corporate Bond fund, Richard Moore's UK Large Cap fund and Ashton Bradbury's Small and Mid Cap funds.
The rationalisation does see Moore's Old Mutual UK Growth Trust and OM Gerrard UK Growth fund merge with the OM Gerrard UK Opportunities fund. The combined fund is now named Old Mutual UK Select Equity fund and has £72.5m in assets.
Other significant mergers include that of the OM Gerrard European Growth fund. The group has combined it with its Swiss Equities Trust, the Old Mutual European Trust, Old Mutual European Blue Chip Trust and the Fairburn European Equity fund and has renamed it Old Mutual European Equity Fund. This fund is being managed by David Ross's active quant process.
In Asia, the group has merged its Hong Kong & China Trust, Thailand Trust and Asian Trust with Old Mutual Worldwide and rebranded it Old Worldwide Select Equity fund.
The original range of 46 funds in the fund range came into being following the Old Mutual's merger with a number of different businesses over the years and includes funds not only from Old Mutual, but also Gerrard, Capel-Cure Myers and Albert E Sharp.
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