Aberdeen’s MM team adds position in Old Mutual fund

Aberdeen’s multi-manager team has added a position in Stephen Message’s Old Mutual UK Equity Income fund following an adjustment of the £65.7m Multi-Manager Multi-Asset Distribution fund’s UK exposure.

Rob Bowie, portfolio manager at Aberdeen, said the team had been monitoring Mr Message’s fund for some time but had not been able to fit it in alongside other UK income products until recently.

“Old Mutual has a strong UK desk with Stephen Message being able to draw on the knowledge of Ashton Bradbury and Richard Buxton,” he said.

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“Historically we didn’t really have space for it, but we’ve just trimmed back on a number of other positions in order to bring him in.”

In three years to February 14, Mr Message’s fund has gained 42.8 per cent according to FE Analytics, compared with 36.5 per cent from the average fund in the IMA UK Equity Income sector and 26.4 per cent from the FTSE All Share index.