Old Mutual seeds new Russ Oxley fund with £100m

The fund will launch on 7 October, a year since it was announced Oxley (pictured) and his team were to join OMGI from Ignis, where they ran a similar fund. Oxley will be named lead manager and will be supported by co-managers Adam Purzitsky and Paul Shanta. Seeded with £100m from Old Mutual, the fund will aim to deliver positive total returns on a rolling 12-month basis with stable levels of volatility uncorrelated to bond and equity market conditions. It will target cash plus 5% per annum. The managers aim to have low correlation with other absolute return strategies thanks to a s...