Old Mutual Global Investors (OMGI) has announced that its USD66.5m Old Mutual Greater China Equity Fund will become the Old Mutual China Equity Fund as of 20 November 2015, subject to regulatory approval.
Going forward, the Fund, which is a sub-fund of the Old Mutual Global Investors Series plc, will have flexibility to focus more on equities related to mainland China, with the specific requirement that there must be a minimum exposure to Taiwan removed.
Hong Kong based fund manager Diamond Lee (pictured), who managed the fund since January 2015, comments: “Following this modification to the fund, I will have more flexibility to allocate investments across China, Hong Kong, and Taiwan. I hope to add more value for clients by having greater freedom to focus on China, whose importance is only likely to rise in the long term.”
Moreover, the benchmark index used for referencing long term performance will change from the MSCI Golden Dragon Index to the MSCI Zhong Hua 10/40 Index.