Old Mutual GI overhauls global equity income capability

AnalyticsOld Mutual Global Investors (OMGI) has put an externally managed global equity fund under review and says it will launch another fund of the same name this summer. The newer fund, which is aimed at UK and offshore investors, will be a sub-fund of Old Mutual Global Investors Series plc in Ireland and managed internally. The existing fund is domiciled in the UK and is managed by O’Shaughnessy Asset Management. Both funds carry the name Old Mutual Global Equity Income Fund. The newer fund will be managed by Ian Heslop, Amadeo Alentorn and Mike Servent. They will aim to provide monthly income targeted at 30% above the MSCI All Countries World Index. OMGI claims a “unique approach” that will “generally provide significant diversification from concentrated, style-biased global equity income funds”. Heslop, head of global equities, says: “Unlike some of our peers who remain heavily weighted towards certain sectors, we are able to seek out compelling investment opportunities wherever these exist globally, irrespective of sector, country or region. “We believe our investment approach should therefore deliver an above industry level of monthly income whilst continuing to deliver capital growth.” ©2015 funds europe

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