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01/12

Old Mutual Wealth completes acquisition of the Cirilium fund range

Paul Craig joins Old Mutual Global Investors. Old Mutual Wealth has completed the acquisition of a 50% stake in Intrinsic Cirilium Investment Company Limited (‘Cirilium’) from Henderson Global Investors. Old Mutual Wealth now oversees 100% of the £2 billion Cirilium fund range which will be managed by John Ventre’s multi-asset team within Old Mutual Global Investors.

The acquisition of Cirilium is part of Old Mutual Wealth’s strategy to create the leading investment business combining financial advice, platform, investment management and asset management. It follows the earlier acquisition of Intrinsic, the UK’s largest network of financial advisers, where Cirilium is the core investment proposition for Intrinsic’s restricted financial advisers.

Following the completion of the acquisition Paul Craig has joined Old Mutual Global Investors as Manager of the Cirilium multi-asset fund range. Paul has managed the Cirilium funds since March 2009 and has over 25 years’ experience in the industry. Investors in the range now stand to benefit from access to the substantial resources, experience and expertise at Old Mutual Global Investors.

Paul joins Old Mutual Global Investors’ 12 strong multi-asset team that manages over £8 billion.

The fund range will now be called Old Mutual Cirilium. It consists of five multi-manager funds and four passive funds, each matched to a different investor risk profile.

Paul Feeney, chief executive of Old Mutual Wealth, comments:

“Full ownership of Cirilium provides continuity to financial advisers and their clients, whilst at the same time enabling them to benefit from the extensive resources of the multi-asset desk within Old Mutual Global Investors. This is now one of the leading multi-asset teams in the market, providing a wide range of investment solutions across all major platforms and providers.”

John Ventre, Head of Multi-Asset at Old Mutual Global Investors comments:

“I am really pleased to have Paul join the OMGI multi-asset team to continue to manage Cirilium. Under Paul’s management, the Cirilium funds have a strong history of delivering for investors. Paul’s skills and long experience are complementary to those of my existing team, meaning we are able to give investors in the Cirilium funds continuity of management while strengthening further the resource available to all of OMGI’s multi-asset funds. This will allow Cirilium and our other market leading multi-asset solutions to continue to deliver the outcomes our investors expect.”

As a result of the acquisition the names of the funds within the Old Mutual Cirilium range will change as follows:

For more information contact

Vee MontebelloOld Mutual Global Investors020 7332 7687vee.montebello@omglobalinvestors.com

Notes to Editors:

Old Mutual Wealth

Old Mutual Wealth is a leading wealth management business in the UK and internationally, helping to create prosperity for the generations of today and tomorrow.

It has an adviser and customer offering spanning:

  • Financial advice delivered by the Intrinsic network in the UK and AAM Advisory in Singapore
  • Platform based wealth management and protection products delivered by Old Mutual Wealth in the UK & Italy* and Old Mutual International globally
  • Asset management solutions delivered by Old Mutual Global Investors
  • Discretionary investment management delivered by Quilter Cheviot.

Old Mutual Wealth oversees £119 billion in customer investments (as at 30 September 2016).

Old Mutual Wealth is part of Old Mutual plc a FTSE 100 group that provides life assurance, asset management, banking and general insurance. Old Mutual is trusted by more than 19.4 million customers across the world and has a total of £342.7 billion assets under management (as at 30 June 2016).

*Old Mutual Wealth announced the sale of Old Mutual Wealth Italy to Ergo Italia on 9 August 2016. The transaction is pending completion.

This press release is for journalists only and should not be relied upon by financial advisers or customers. Investments may fall or rise in value and investors may not get back what they put in.