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Old Mutual Asset Management Launches New UK Opportunities Fund

Wendy Spires Group Deputy Editor London 16 September 2011

Old Mutual Asset Management Launches New UK Opportunities Fund

Old Mutual Asset Managers has launched its new UK Opportunities fund, to be run by Simon Murphy, head of its UK Large Cap team.

Murphy already manages the firm’s UK Select Equity fund, which has generated a return of 25 per cent over the three years to end-July 2011.

Murphy will combine both top-down views and bottom-up analysis in a bid to generate positive returns over a three- to five-year investment cycle. Murphy will also be able to directionally adjust market exposure depending on whether markets are anticpated to rise or fall. 

The new Dublin-domiciled fund carries an annual management charge of 1.5 per cent and a 15 per cent performance fee of (relative to the six-month Libor rate). Minimum investment is £1,000 ($1,579).

In other developments, earlier this month OMAM appointed former Royal London Asset Management fund manager Kevin Lilley to manage its £71 million ($115 million) European equity fund.

Lilley was latterly manager of Royal London’s £641 million European growth fund, having first joined the firm in 2001.

OMAM’s European equity fund had hitherto been managed by its quantitative strategies team.

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