Old Mutual Global Investors (OMGI) has appointed Quilter Cheviot to manage its £77 million (€104 million) Old Mutual Ethical Fund.
The fund is a sub-fund of the Old Mutual Multimanager Trust and is currently sub-advised by Impax Asset Management, but will move to Quilter Cheviot on December 1, 2015.
Quilter Cheviot has a sustainable investment team led by Claudia Quiroz and William Buckhurst, who will be taking over as fund managers.
The team invests around the topic of climate change, resource scarcity and population shifts and manages over £130 million across funds and segregated portfolios.
OMGI has also reduced the ongoing charges figure by approximately 0.2% for the A share class, meaning its drops from 1.85% to 1.65%.
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