OMGI gives EMD fund to Peta
Old Mutual Global Investors (OMGI) has announced that John Peta, head of Emerging Market Debt, will take over as fund manager on the $168m (€154m) Old Mutual Emerging Market Debt fund.
The action will be effective from 21 January 2016, subject to regulatory approval.
The fund, which is currently sub-advised by Stone Harbor Investment Partners LP (Stone Harbor), is a sub-fund of the Dublin domiciled Old Mutual Global Investors Series.
Its objective, to achieve asset growth through investment in a diversified portfolio of fixed and variable rate debt securities issued in emerging markets, will remain unchanged.
He joined the business in March 2015 and has managed the $115m (€105m) Old Mutual Local Currency Emerging Market Debt Fund since April 2015.
He started his career in fixed income in 1987 and has spent 18 years specialising in emerging market debt investing.
OMGI has also proposed a change to the investment policy of both the Old Mutual Emerging Market Debt Fund and the Old Mutual Local Currency Emerging Market Debt fund, which will allow the manager to increase the use of derivatives.
Warren Tonkinson, Managing Director, Old Mutual Global Investors comments: “John Peta has a great deal of experience managing emerging market debt funds, which investors in the Old Mutual Emerging Market Debt fund are set to benefit from. By increasing his flexibility to use derivatives, John will have greater freedom in his portfolio management style; something we believe will deliver additional client value.”