The OMGI Asian equities team, which manages $500 million in the region, was hired in late 2014 and consists of four members: Josh Crabb, Diamond Lee, Kris Whitlock and Dmitry Lapidus.
It runs three funds – the Old Mutual Asian Equity Fund, the Pacific Equity Fund and the Greater China Equity Fund.
“This is a significant development for Old Mutual Global Investors. Now we offer local products to the local market in Asia,“ said Julian Ide, chief executive.
The business has expanded its Asian operations significantly in the last eighteen months, including the appointment of Carol Wong as Head of Distribution Asia in November 2013 and Simon MacKinnon as Asia Strategy Adviser, in February 2015.
Mackinnon is providing strategic advice on the company’s Asia-Pacific expansion plans, including working out an operating model for the region and identifying and supporting the recruitment of future key appointments.
“Asia is a very important market for us and we are committed to building our business in the region,” Ide said.
“We are delighted to be investing significantly in our Hong Kong business. Outside the UK, this is our second home and we have ambitious plans. While Asia has a very positive growth dynamic, we will also distribute our Asian capabilities across the globe and implement our learnings from the Asian business market widely.”