Old Mutual considers fund of funds offering

Old Mutual Global Investors chief executive Julian Ide says the asset manager is considering whether it can launch a fund of Old Mutual funds.

Asked at the Old Mutual Wealth investor presentation whether Old Mutual Global Investors could expand its offering with multi-asset, Ide says: “On the multi-manager desk the whole basis, philosophy and process is based around best of breed manager selection.

“There are a few of the UK managers within Old Mutual Global Investors already included in that programme, but it’s a very small number. We’re going to continue to preserve the offering in that way.

“There is no limit or base to how much, it’s a pure best of breed decision by the managers. It’s been very important to establish early on how that will continue.

“However, there is an opportunity to develop what we would call a fettered multi-asset capability just in Old Mutual Global Investors and the likelihood is, if we do that, we’re looking at some of our options at the moment, the pricing for that would probably be at a lower base.”

He adds: “We already have a good track record in managing assets in that way [internally] and we’re looking at whether we can commercialise that with the Old Mutual Wealth team.”