Effective today (Sept 29, 2015), these changes represent the next step in Old Mutual Wealth's strategy of building the UK's leading investment business.
Led by Ben Mountain (QC) and Anthony Gillham (OMGI), the unit comprises portfolio management, fund research, asset allocation and the Managed Portfolio Service. This 24-strong multi-asset investment solutions unit is one of the largest and most experienced multi-asset capabilities in the UK. With over 250 years of combined investment experience, the depth and breadth of talent and skills across these teams is unparalleled.
Ben and Anthony will both join the monthly multi-asset investment forum, which is chaired by Paul Simpson, Director of Investments at OMGI. This forum provides further opportunities for collaboration.
Having finalised the arrangements for the investment-led multi- asset unit, Stewart Cazier, whom Old Mutual Wealth thanks for his work on the transition project, now leaves the organisation.
The multi-asset investment solutions unit is a true partnership of equals, bringing together two clearly complementary skills sets. QC boasts excellence in fund research through an established and well-resourced team, as well as portfolio management through its Managed Portfolio Service (MPS). Meanwhile, OMGI brings outstanding experience in managing unitised multi-asset funds using a diverse range of asset classes and financial instruments, including derivatives, as well as its own MPS offering.
Martin Baines, Chief Investment Director of Old Mutual Wealth, comments:
"Since QC joined Old Mutual Wealth earlier this year we have been identifying areas of complementary activity and how we can best harness the expertise of two superb investment businesses managing clients' money. These significant developments present the opportunity to more effectively leverage the combined investment knowledge of QC and OMGI for the benefit of all our clients in the multi-asset area. By bringing together these talents in one capability within the Old Mutual Wealth Investment Division, we will be better positioned to deliver a leading range of solutions specifically designed for different client and adviser needs in different markets in the UK and internationally.
"In Ben and Anthony we have two very experienced investment leaders. I truly believe that with their leadership, this new unit will be able to deliver the investment returns that our clients expect from such a talented team."
As part of this process, a review of OMGI's existing team was conducted to consider how to best enhance the client offering. The conclusion is that there will be no change to the Old Mutual Cirilium Funds range, the Old Mutual Managed Fund, the Old Mutual Global Best Ideas and the Old Mutual European Best Ideas Funds or the WealthSelect MPS. There will also be no change to the QC's award-winning MPS range, which is co-managed by Ben Mountain and Julian Menges.
The following changes will take effect immediately:
The Old Mutual Spectrum Funds range will be managed by Anthony Gillham. There will be no change to the investment objectives of the funds. The funds will remain aligned to the existing Towers Watson risk profiles.
The Old Mutual Voyager Funds range will be managed by Anthony Gillham and Sacha Chorley, apart from the Old Mutual Voyager Global Dynamic Fund which will be managed by Anthony and Lee Freeman-Shor. Anthony currently manages the Old Mutual Voyager Strategic Bond Fund. There will be no change to the investment objectives of these funds.
Other funds' ranges managed by the OMGI team remain under review and will be managed by the team until further notice.
John Ventre and François Zagamé will also be leaving the business. They have made a significant contribution to building out OMGI's multi-asset capabilities and we wish them well in their future endeavours.
Notes to Editors:
Sacha joined Skandia in 2011 and works on asset allocation and quantitative tools to support the fund ranges run by the team. Sacha has a degree in Mathematics from the University of Bath, is a CFA Charterholder and has passed all levels of the CAIA exams.
Lee joined Old Mutual in 2005 with a wealth of experience having previously worked in Private Client Investment Management as an Investment Development Manager with Winterthur Life and, more recently with Schroder Investment Management. Lee graduated from Nottingham Law School with an LLB (Hons) degree. He holds the Investment Management Certificate.
Anthony joined Old Mutual in 2000 and is a portfolio manager within our multi-asset team.
In 2007, Anthony became a global bond portfolio manager having been a fixed income research analyst since 2006. Prior to focusing on fixed income, Anthony’s areas of coverage included multi-asset, Nordic equities and quantitative US equity and fixed income research.
Anthony is a CFA Charterholder and has over 15 years of experience.
Ben graduated with a BSc (Hons) degree in information technology for business from Aston University.
He joined Quilter Cheviot (then Quilter) in 1999 and has been joint head of the Managed Portfolio Service, which offers clients a range of actively managed, risk controlled portfolios, since 2012, alongside his role as head of the investment fund research team, which has responsibility for analysing all third-party managed investments.
Ben is a Chartered Financial Analyst (CFA) Charterholder and a member of the Chartered Institute for Securities & Investment.
Old Mutual Global Investors
Old Mutual Global Investors has grown strongly since its creation in August 2012 and now has assets under management of £22.4 billion¹. The team consists of 230 industry professionals, including a team of 59 investment professionals. As part of Old Mutual Group it has a strong financial parent to support the activation of its business strategy. Old Mutual Global Investors is the asset management division of Old Mutual Wealth. To find out more information please go to: www.omglobalinvestors.com
Quilter Cheviot, part of Old Mutual Wealth, is one of the UK’s largest discretionary investment firms and can trace its heritage to 1771.The firm is based in twelve locations across the UK, Jersey and Ireland and has total funds under management of £17.2 billion (€24 billion)¹. Quilter Cheviot focuses primarily on structuring and managing bespoke discretionary portfolios for private clients, charities, trusts, pension funds and intermediaries.
¹ As at 30 June 2015
This press release is for journalists only and should not be relied upon by financial advisers or customers.