Strategy & Practice Management

Josh Crabb and team to depart from OMGI

Old Mutual Global Investors (OMGI) is switching the management of its two Asian equity funds, currently managed from Hong Kong, to its global equities desk.

Old Mutual Global Investors (OMGI) is switching the management of its two Asian equity funds, currently managed from Hong Kong, to its global equities desk, headed by Ian Heslop. 

According to a statement, the change follows an internal review, where the firm found that investors would benefit from the switch to OMGI’s global equities team. 

The USD179.7 million Old Mutual Pacific Equity Fund and the USD420.7 million Old Mutual Asian Equity Income Fund were being managed by Josh Crabb and his Asia equities team. 

As a result of the change, Crabb and the Asian equities team will be leaving the business in May to pursue other opportunities, the statement revealed. 

The global equities team is scheduled to take on the management of the funds on May 18 this year.

The firm said that the global equities desk has significant experience in managing Asian equity strategies and pointed to its management of the UK-domiciled Old Mutual Asia Pacific Fund.

Old Mutual Asia Pacific Fund delivered 68% versus the benchmark (MSCI AC Asia Pacific ex-Japan index) return of 44.3%, over three years, according to the statement.