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Old Mutual proposes income twist for Crabb’s Asia fund

Old Mutual proposes income twist for Crabb’s Asia fund

Old Mutual Global Investors is hoping to refocus Josh Crabb’s Asian Equity fund to provide income for its investors.

The group is seeking shareholder approval for the move, which would see the $212m fund renamed as Asian Equity Income.

The changes are likely to be made at the end of the month, the group added.

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Mr Crabb joined the group last year from BlackRock and has been running the fund since October from Old Mutual’s Hong Kong office.

The manager said the rationale behind the proposed changes was that equity income was “at the top of the investment agenda”.

He added the Asia-Pacific region was “one of the world’s largest growing markets in terms of dividends and growth”.

“Yet Asian equity income funds are vastly under-represented in terms of total assets in income producing strategies,” he said.