Omam to launch long/short Ucits fund

cutting_the_ribbonOld Mutual Asset Managers is to launch a long/short Ucits fund, the Old Mutual UK Opportunities fund.

Simon Murphy, the head of the UK large cap team, will seek to achieve a consistent return profile while keeping volatility low.

Investing across the market cap spectrum, Murphy will combine his top down macro and market views with fundamental bottom up analysis.

“The UK equity market currently offers investors attractive opportunities, albeit with high degrees of volatility given the uncertain economic background,” says Murphy. “Many stocks are significantly undervalued at current levels and the Old Mutual UK Opportunities Fund, being a long/short Ucits fund, will aim to maximise the upside potential while also mitigating volatility risk.”

The launch is scheduled for the fourth quarter of this year, subject to regulatory approval. It will be domiciled in Ireland.

©2011 funds europe