Subject to regulatory approval, OMGI is poised to bring its global emerging market vehicle in-house by 21 July 2017.
The new team, led by Payne, will be taking over the Old Mutual Global Emerging Markets mandate from Fisher Asset Management, which has managed the fund for the last six years.
The trio worked together at Nomura for three years, most recently on its global emerging markets equity fund and, together, have over 40 years of experience in researching and managing emerging and frontier equity investments.
The fund’s objective will remain the same after the change in management, but OMGI announced the vehicle will have a lower annual management fee.
The asset manager explained that “this change is in the best interests of clients” and that it intends for the $244.6m fund to be run as “a highly active, concentrated portfolio.”
The fund’s holdings will shrink to between 30 and 40 stocks as soon as Payne and co take over, and the team will use a ranking screen to further narrow the universe of available emerging and frontier stocks.
