Old Mutual Global Investors has announced Josh Crabb, head of Asian equities, is to leave the firm, along with his wider team of fund managers.
Responsibility for managing the £293m Old Mutual Asian Equity Income fund and the £125m Old Mutual Pacific Equity fund will now be managed by the global equity desk in London, headed by Ian Heslop.
The change - which will take effect from 18 May - will mean the more systematic and data driven approach deployed by Mr Heslop and his colleagues will be used with the Asian funds.
The £823m Old Mutual Global Equity fund run by Mr Heslop and his colleagues has returned 113 per cent over the past five years to 17 April, compared with 55 per cent for the average fund in the IA Global Sector in the same time period.
Warren Tonkinson, managing director at Old Mutual Global Investors, said: ““As a part of our regular fund review process we look to identify opportunities to add value for clients.
"We are confident that investors in the Old Mutual Pacific Equity fund and the Old Mutual Asian Equity Income fund will benefit from the vast experience of the global equities team, who have consistently demonstrated outperformance in this asset class.
"We’d like to thank Josh and the team for managing the funds until now and wish them the best for the future.”
Old Mutual Global Investors will split from the Old Mutual Group later this year following a buyout by the fund manager Richard Buxton and colleagues.
David.Thorpe@ft.com
