Old Mutual Global Investors (OMGI) has hired a trio of managers from Nomura Asset Management to run its global emerging markets fund.
The firm has brought in Nick Payne, Salman Siddiqui and Liz Fernandes to form a new global emerging markets equity desk.
The trio will take on the management of the Old Mutual Global Emerging Markets fund, which had been run by Fisher Asset Management in recent years.
OMGI said the fund’s objective would not change, but the management fee on the fund will be reduced once the fund is being run in-house.
The team, headed by Mr Payne, has worked together for three years at Nomura, most recently running the Nomura Global Emerging Markets Equity fund.
OMGI said the managers would reduce the number of holdings in the Old Mutual Global Emerging Markets fund, running the fund as a highly active, concentrated portfolio of between 30 and 40 stocks.
Under the stewardship of Fisher, the Old Mutual Global Emerging Markets fund outperformed its IA Global Emerging Markets peer group average over one, three and five years, according to data from FE.