Notification of changes to Investment Adviser of multiple Old Mutual Funds
We have been informed by Old Mutual Global Investors Series PLC (“The Company”) that the underlying funds of the below listed funds were subject to a change to their Investment Adviser, with effect from 15 June 2018 (“The Effective Date”).
- L64 Old Mutual Compass Portfolio 3 (GBP HDG)
- L67 Old Mutual Compass Portfolio 4 (GBP HDG)
- L65 Old Mutual Compass Portfolio 3 (SGD HDG)
- L68 Old Mutual Compass Portfolio 4 (SGD HDG)
The Company has stated the following:
“In December 2017, Quilter plc (formerly called Old Mutual Wealth Management Limited), OMGI UK’s parent company, announced that it is splitting its fund management arm into two distinct parts. The single-strategy asset management business, which focuses each fund on one type of asset class rather than multi-asset strategies, has been sold to members of the management team that currently run the single-strategy business in partnership with funds operated by private equity firm TA Associates. Quilter plc has retained the multi-asset business, and it is proposed that Old Mutual Investment Management Limited (to be renamed Quilter Investors Limited) (“OMIML”) will perform the investment management of the multi-asset funds currently managed by OMGI UK, which shall include the Funds.
With effect from 15 June, 2018 (or such later date as agreed between OMGI UK and OMIML and notified to the Shareholders), (the “Effective Date”) OMGI UK will cease to act as the Investment Adviser of the Funds and OMIML will act as the Investment Adviser of the Funds. OMGI UK as the Investment Manger of the Company will delegate its discretionary investment management functions in respect of the Funds to OMIML.”
Should you have any questions regarding these changes, please contact International Funds & Investments.