Old Mutual Global Investors unveils Africa-focused fund

Africa mapOld Mutual Global Investors has launched the Old Mutual Pan African Fund, mirroring an existing equity fund of the same name from South African partner company Old Mutual Investment Group. This is the first time the asset manager collaborated with its colleagues in South Africa to launch a fund for a global client base. The new fund aims for long-term capital growth by investing in companies that the manager, Cavan Osborne, expects to benefit from economic developments and growth across the African continent. This includes those listed on regulated African stock markets and other global markets, where more than 50% of their revenue or profit comes from Africa. Seeded with $50 million (€39.9 million), the fund will invest in approximately 30 to 40 stocks. Osborne will be supported of Peter Linley, from partner company Old Mutual Investment Group. Old Mutual Investment Group's existing Old Mutual Pan African Fund had $11.75 million assets under management at the end of September. Osborne says: "We believe that now is an excellent time for investors with a slightly higher appetite for risk to invest in Africa. The continent provides a diverse range of investment opportunities and is currently going through a massive growth period with economic forecasts suggesting there are good returns to be had over the next few years." Julian Ide, chief executive officer of Old Mutual Global Investors, adds: "This is an exciting development for Old Mutual Global Investors as it is the first time that we have collaborated with our colleagues in South Africa to launch a fund for a global client base." Old Mutual Global Investors, the asset management division of Old Mutual Wealth, has assets under management of £17 billion (€21.7 billion). One of Africa's largest asset management groups, Cape Town-headquartered Old Mutual Investment Group has over 574 billion South African rand (€41.5 billion) in assets under management. ©2014 funds europe

Executive Interviews

INTERVIEW: Put your money where your mouth is

Jun 10, 2016

At Kempen Capital Management, they believe portfolio managers should invest in their own funds. David Stevenson talks to Lars Dijkstra, CIO of the €42 billion manager.

EXECUTIVE INTERVIEW: ‘Volatility is the name of the game’

May 13, 2016

Axa Investment Managers chief executive officer, Andrea Rossi, talks to David Stevenson about bringing all his firm’s subsidiaries under one name and the opportunities that a difficult market...


ROUNDTABLE: Beyond the hype

Oct 13, 2016

The use of smart beta investing continues to grow. Our panel, made up of both providers and users, discusses what the strategy actually means, how it should be used and the kind of pitfalls that may arise when using this innovative investment technique.

MIFID II ROUNDTABLE: Following the direction of travel

Sep 07, 2016

Fund management firms Aberdeen and HSBC Global meet with specialist providers to speak about how the industry is evolving towards MiFID II.