Old Mutual Global Investors’ Stephen Message has left the firm with immediate effect, with Ed Meier taking over the management of the Old Mutual UK Equity Income fund.
Meier, who joined Old Mutual Global Investors from Schroders in 2013, is deputy fund manager for the Old Mutual UK Alpha fund. In his new role he reports to the business’s head of large cap UK equities, Simon Murphy while continuing to assist with the UK Alpha fund.
The management change follows a review of the Old Mutual UK Equity Income fund. However the fund’s investment objective will remain the same. The £220m fund aims to deliver a growing income stream with capital appreciation by using a fundamental research process and investing in 50-60 stocks.
Richard Buxton, head of UK equities and CEO, OMGI: “We recognise the important role that UK equity income funds can play in many investors’ portfolios and are committed to building a leading capability in this area.
“We believe investors in the Old Mutual UK Equity Income fund will benefit from Ed’s proven stock-picking and portfolio management skills, as well as the portfolio construction abilities of OMGI’s highly experienced UK equities team. We believe that under Ed’s management there is a significant opportunity for us to attract further investment to the fund, which is in a sector dominated by a small number of asset managers.”