Sunday 23rd October 2016                 Change text size:

Old Mutual Global Investors Change Investment Adviser on Ethical Fund

Claudia Quiroz Quilter Cheviot

On October 6, Old Mutual Global Investors (OMGI) confirmed that the investment adviser of its £77m Old Mutual Ethical Fund will be a changed to Quilter Cheviot.

The Fund, which is a sub-fund of the Old Mutual Multimanager Trust, is currently sub-advised by Impax Asset Management, but is scheduled to move to Quilter Cheviot on 1 December 2015.

Claudia Quiroz (pictured), Executive Director, Sustainable Investing at Quilter Cheviot adds: “We, at Quilter Cheviot, are looking forward to working closely with OMGI to ensure that we deliver both the Old Mutual Ethical Fund’s financial and ethical investment objectives”.

Quilter Cheviot has a long track record of managing ethical investments. Indeed, it boasts an award-winning sustainable investment team led by Claudia Quiroz and William Buckhurst, who will be taking over as fund managers.

The team have a history of success in delivering long-term capital appreciation and income to clients by investing around the world in opportunities arising from the convergence of climate change, resource scarcity and population shifts. Quilter Cheviot’s sustainable investment team currently manages over £130 million in client investments across funds and segregated portfolios.

Warren Tonkinson, Managing Director, Old Mutual Global Investors commented: “The Quilter Cheviot Sustainable Investment team have a vast amount of experience managing sustainable and ethical funds and we look forward to working with them on the management of the Old Mutual Ethical Fund.  As well as offering clients access to one of the best ethical investing teams in the industry, we are pleased to confirm that investors will also receive a cost saving as a result of this move. I’d like to thank Impax Asset Management for its support in managing the Fund until now.”

Independent SRI consultant John Fleetwood of 3D Investing said: “The Old Mutual fund has underperformed the sector over the past couple of years and Old Mutual clearly feel that Quilter Cheviot will serve them better.  The cost saving [a reduction to the ongoing charges figure (“OCF”) of approximately 0.2%] is certainly to the advantage of investors and Quilter Cheviot has delivered strong returns in the management of its own Climate Assets Fund.”

Old Mutual’s wealth management division is a sponsor of this year’s Good Money Week.

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