Russ Oxley is to leave Old Mutual Global Investors with immediate effect following a difference in opinion over the future strategic direction of the firm.
Adam Purzitsky and Paul Shanta have now been appointed as Co-Heads of the Absolute Return Government Bond team (ARGB team), which was perviously run by Oxley (pictured), reporting to Paul Simpson, Investment Director.
Purzitsky and Shanta joined Old Mutual Global Investors in early 2015 along with the other members of the ARGB team. They have been instrumental in the management and development of the Absolute Return Government Bond strategy over the last seven and eight years, respectively.
Old Mutual Global Investors also announces the enhancement of the ARGB portfolio management team with the appointment of two highly experienced investment professionals, Mark Greenwood and Peter Meiklejohn. Both Mark and Peter have already made valuable contributions to the ARGB team during the time they have been working alongside the team as consultants. These appointments bring the total number of portfolio management professionals working on the ARGB strategy to six, supported by two additional specialist investment professionals.
Supported by the rest of the team, Purzitsky and Shanta will continue to co-manage the Old Mutual Absolute Return Government Bond strategy. Their focus will remain on meeting clients’ expectations and delivering the outcomes and investment journey clients expect. Purzitsky and Shanta were among the first members of the team to join Old Mutual Global Investors, and were instrumental in the pre-launch preparation, as well as actively managing the strategy since launch in October 2015. The managers will continue to employ exactly the same investment process and philosophy that they have been at the heart of developing over many years.
Shanta says: “We joined Old Mutual Global Investors because we were excited by the scope the firm offered us to manage the investment strategy we’ve spent our careers developing. The ‘CIO-free zone’ philosophy and collaborative, collegiate environment was very attractive to us. It is a highly distinctive part of the firm’s culture, and demonstrates an approach that is now the exception rather than the rule among major asset management firms.”
Purzitsky adds: “Old Mutual Global Investors has made a major investment in the ARGB capability, building sophisticated business infrastructure to support the successful launch of the Old Mutual Absolute Return Government Bond strategy.
“Paul and I, along with other members of the team, have spent most of the last decade developing the strategy and tools we use. We now have advanced technology and one of the best-resourced teams we’ve ever had.
“We’re excited about the prospects for the Old Mutual Absolute Return Government Bond Fund, which we believe remains unique in the marketplace as an investment solution to help clients to manage some of the key challenges faced by fixed income investors and asset allocators.”
Paul Simpson, Investment Director, and Richard Thompson, Head of Investment Risk, will continue their close involvement and collaboration with the ARGB team. Simpson brings a great deal of expertise and experience in absolute return investment strategies.
Simpson says: “We are pleased with the strong interest we have received from our global client base since we launched the Old Mutual Absolute Return Government Bond strategy, which is a key component of our suite of highly regarded absolute return products, including GEAR and the newly launched UCITS version of our UK Specialist Equity Fund. We are fully committed to the ARGB team and fund, as demonstrated by the appointments of Mark and Peter. Both of these highly experienced investment professionals have worked closely with Adam, Paul and the team during the last year, making valuable contributions to the strategy. We are pleased that they are now permanent members of our business.”
