Old Mutual Asset Managers (OMAM) is looking to launch a stable of actively-managed developed market ...
Old Mutual Asset Managers (OMAM) is looking to launch a stable of actively-managed developed market unit trusts, writes Robert Stock.
OMAM has secured the services of a team of lead fund managers from Hill Samuel, headed up by John Ainsworth. They were initially expected to join the combined Capel Cure Sharp (CCS) and Greig Middleton (GM) business, instead Ainsworth was named chief executive of OMAM.
The combined CCS and GM businesses are still to be branded under the name Gerrard Asset Management when their merger is completed, despite reports to the contrary.
The Hill Samuel team includes Fiona Hathorn, Peter Baxter, Adrian Farthing and Ashton Bradbury. Their expertise covers UK small and mid cap companies, Far East, global emerging markets and European equities.
Ainsworth said the establishment of the team at OMAM had set the groundwork to transform the business into a powerful boutique-style active asset manager.
Ainsworth said: "Old Mutual Asset Managers were looking to build their business in developed markets off their active quant process and were looking to hire some other people as well. In the team there is a global expertise and experience at a leadership level and people can be fitted in under them."
Graham Kane, chief executive of Old Mutual Fund Managers, said: "We haven't made any definite plans as yet but we will be looking closely at how to make use of these new capabilities at OMAM to make them available to existing and potential clients.
"I have to say that new funds are a definite possibility at this stage but we are sitting down with the fund managers and will decide together how best to make their capabilities available."
Ainsworth said: "Now we have an exciting opportunity to expand the company's asset management capability by adding traditional equity management in developed markets to the existing active quantative expertise already in Old Mutual Asset Managers."
Two global vehicles
'Further plug advice gap'
Must appoint separate CEOs and boards
Advisers do come out well
Will report to Mark Till