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OMGI Launches UK Equity Fund

Amisha Mehta Assistant Editor London 15 April 2016

OMGI Launches UK Equity Fund

The asset management division of Old Mutual Wealth is boosting its equity capabilities with an Ireland-domiciled fund.

Old Mutual Global Investors, part of the UK's Old Mutual Wealth, is launching a UK small and mid-cap liquid alternatives fund.

The Ireland-domiciled Old Mutual UK Specialist Equity Fund will target capital appreciation by holding between 80 and 110 long and short positions in UK equities, primarily outside the FTSE 100 Index, while maintaining low net exposure to underlying equity markets. It aims to generate absolute returns in all market conditions. 

The UCITS fund, managed by UK equities fund manager Tim Service and deputy fund manager Luke Kerr, will mirror the strategy of OMGI's 13 year old Cayman-domiciled fund. Since launch, that fund has delivered an annualised return of 7.5 per cent as at the end of February.

“OMGI has one of the most successful UK small and mid-cap teams. With a proven track record in managing a low net equity long short investment process for 13 years, a number of clients have shown interest in wanting to access the investment approach in a UCITs wrapper. This launch demonstrates further our commitment to providing clients with investment solutions most suitable for them,” said Warren Tonkinson, managing director at OMGI.

OMGI had assets under management of £24.7 billion ($35 billion) as of the end of 2015.

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