Old Mutual launches Generation fund range for John Ventre
The newly-formed Old Mutual Global Investors fund group is launching a Generation range of multi-manager funds with varying growth and income targets, Investment Adviser can reveal.
The launch is the latest in a raft of changes for the business, which is being formed by the merger of Skandia Investment Group and Old Mutual Asset Managers, revealed by Investment Adviser in April.
The range of four unfettered funds of funds will be managed by John Ventre (pictured) and his team.
The funds’ growth targets are also expected to be linked to the consumer prices index of UK inflation.
The funds are called Generation 3:4, Generation 3:6, Generation 4:4 and Generation 4:6.
“The proposition will be one that can generate income for investors while preserving capital,” a spokesman said.
The group earlier this week outlined plans to expand the asset management capability of Old Mutual Global Investors - the merged entity created by Old Mutual Asset Managers and Skandia Investment Group.
In a statement the company said it would look to “deliver investment solutions that are aligned to the changing needs of investors and financial advisers post RDR”.
Paul Feeney, chief executive of Old Mutual Wealth, said: “We are combining all the talents of the Skandia businesses to create a single, stronger company with one brand, one strategy and one vision.”
It is expected that the funds will be launched on September 27.
Elsewhere, the company said the Skandia name would be dropped and Skandia UK, Skandia International and the Skandia European businesses outside of the Nordic region will adopt the Old Mutual Wealth brand over the next 24 months.
The move has been made following the sale of the Skandia Nordic business to a company outside the Old Mutual group called Skandia Liv.