Old Mutual Asset Managers is preparing to launch a new UCITS fund for manager Simon Murphy in the fourth quarter this year, subject to regulatory approval.
Old Mutual Asset Managers is preparing to launch a new UCITS fund for manager Simon Murphy in the fourth quarter this year, subject to regulatory approval. The Old Mutual UK Opportunities Fund will be domiciled in Ireland and invest across the market capitalisation spectrum to deliver positive returns over a 3- to 5-year investment cycle. It will combine top-down macro views with bottom-up fundamental analysis to identify equity opportunities and be market directional. Murphy said that he believed the UK equity market currently offers investors attractive opportunities although conceded that high volatility existed because of continuing economic uncertainty. “Many stocks are significantly undervalued at current levels and the Old Mutual UK Opportunities Fund, being a long/short UCITS fund, will aim to maximise the upside potential while also mitigating volatility risk,” Murphy told MoneyMarketing. Murphy manages the GBP90.5million UK Select Equity fund. It has gained 11.5 per cent over five years through end-July according to FTAdviser who quoted Ashton Bradbury, head of equities at OMAM, as saying: “It offers a compelling proposition to investors with a long term investment horizon, seeking a positive total return and looking for investments to diversify their existing portfolio.”
