OMGI fund assets 7% up in H1

Old Mutual Global Investors (OMGI) funds under management (FUM) have gone up 7% to a net total of £22.4bn compared with December 2014 (£21bn), the company’s latest report has highlighted.

50% of core funds in top quartile and 81% above median over three eyars, OMGI also said.

Positive results came along after a recruiting and expanding plan implemented by the company over the first six months of 2015.

A Zurich office was opened and Dominik Issler appointed to lead expansion into Switzerland, Austria and Germany, as well as distribution Centres in London, Zurich, Boston, Miami, Montevideo, Hong Kong and Taipei

The company also established a Hong Kong based Asian equities investment capability, headed by Josh Crabb and increased brand profile in the region in recognition of this development

Julian Ide, CEO of Old Mutual Global Investors comments:  “Old Mutual Global Investors delivered solid returns for its clients during the first half of this year as investment performance across the teams continued to be impressive.  Three years on since our creation, assets under management have increased by nearly £10 billion and the business is now a modern, robust and flexible asset management company delivering positive returns for clients and shareholders.

“We’ve made progress on a number of fronts. Flows from our international markets are now 40% of the total and comprise 17% of our assets overall. The business continues to be well balanced between third party and Old Mutual Group customers with an asset mix of approximately 50/50.

“We have significantly increased our assets sourced from the world’s largest financial institutions over the last 12 months and continue to build relationships in this space.

“We continue to manage our cost base to improve our operating margin. The outlook for the business is positive with strong investment performance, increasing flows from Old Mutual Group sources, and improving margins.”

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