Old Mutual International has appointed GAM as investment adviser for its OMG Diversified Plus and Growth Plus multi-manager portfolios.
The portfolios both invest in five asset classes. This includes equities, cash, property, alternative strategies and bonds.
Gerrard (owned by Old Mutual) previously managed the two funds but, the group decided to switch managers following a decision for Gerrard to concentrate on its UK business.
OMI 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 in the process of reviewing the funds in the two portfolios. It is likely the number of funds in each portfolio will be reduced to 25. The asset allocation boundaries will also undergo some alterations.
Martin Harrison, client dir- ector of GAM, said: 'Our multi-manager approach combines intensive and ongoing research into managers and markets with active asset allocation. Underlying funds are selected and monitored using a combination of quantitative and qualitative research.'
OMI constantly monitors the marketplace to ensure that its funds are tailored to investor requirements, in both rising and falling markets.
The company is also in the process of undergoing regulatory approval so the two can be marketed to a wider range of markets.
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