Old Mutual Asset Managers UK (OMAM) is to launch a new global equity long/short hedge fund in May. ...
Old Mutual Asset Managers UK (OMAM) is to launch a new global equity long/short hedge fund in May.
The Global Sector Opportunities fund will be managed by OMAM's quantitative strategies team. This team currently manages OMAM's global equity market neutral strategy, which has now closed with assets of around US$1.7bn (£1bn).
The Old Mutual Global Sector Opportunities Fund will trade globally in liquid stocks in developed markets, using a proprietary quantitative model to compare stocks within the same sector across regions in order to exploit pricing inefficiencies.
Unlike the existing strategy, the new fund will incorporate an element of directionality, according to Peter Baxter, chief executive at OMAM (UK).
He said funds would typically contain between 200 and 300 stocks selected from the MSCI World Enhanced index of over 3,200 stocks, which covers over 90% of global market capitalisation within the major developed markets of the US and Canada, UK, Europe, Japan and Asia (Australia, Hong Kong, New Zealand and Singapore).
Baxter said: "This fund represents an exciting development for OMAM, using the investment team's proven research process and portfolio management expertise."
£300bn of liabilities
View from the front row
Transfer from occupational scheme
Appointed by FCA and PSR boards