Old Mutual Wealth has announced the creation of a dedicated multi-asset business through combining Quilter Cheviot and Old Mutual Global Investors.
The business will be led by Ben Mountain from QC and Anthony Gillham of OMGI. Offered will be portfolio management, fund research, asset allocation and a Managed Portfolio Service.
Also linked to the changes are some departures. John Ventre and François Zagamé, who helped build OMGI’s multi-asset capabilities will leave, as will Stewart Cazier, who worked on the transition to the new business unit.
Martin Baines, chief investment director of Old Mutual Wealth, said: “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.”
Although the business unit is new, it will not lead to changes in the following fund ranges or funds, Old Mutual stated: Old Mutual Cirilium Funds range, Old Mutual Managed Fund, Old Mutual Global Best Ideas, Old Mutual European Best Ideas Funds, WealthSelect MPS. The QC MPS range also remains untouched, with co-managers Ben Mountain and Julian Menges.
However, there will be some changes affecting products. The Old Mutual Spectrum Funds range will be managed by Anthony Gillham. The Old Mutual Voyager Funds range will be managed by Anthony Gillham and Sacha Chorley. The Old Mutual Voyager Global Dynamic Fund will be managed by Anthony and Lee Freeman-Shor.
Additionally, Old Mutual stated: “Other funds’ ranges managed by the OMGI team remain under review and will be managed by the team until further notice.”