Old Mutual hires Nomura trio to launch emerging markets desk

OMGI-GEM_Liz-Nick-SalmanOld Mutual Global Investors (OMGI) has hired three people formerly of Nomura Asset Management to launch an emerging markets equity desk.

Nick Payne, Salman Siddiqui and Liz Fernandes join OMGI after working together for three years at Nomura, most recently on the Nomura Global Emerging Markets Equity Fund.

Payne heads the team and will report to Richard Buxton, OMGI’s CEO.

As part of the new emerging markets business, OMGI is set to bring the management of the Old Mutual Global Emerging Markets Fund in-house.

The US$244.6 million (€218.17 million) fund is currently managed by Fisher Asset Management but will be insourced on July 21, 2017. Payne, Siddiqui and Fernandes will then manage the fund.

OMGI intends to reduce the fund's holdings to between 30 and 40 stocks. It also plans to reduce the fund’s annual management fee.

OMGI has assets under management of £34.6 billion (€39.19 billion).

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