Old Mutual Awards Management of $74 Million China Equity Fund to Ping An
Old Mutual Global Investors (OMGI) has awarded management of its $74 million Old Mutual China Equity Fund to Ping An of China Asset Management (Hong Kong), with effect from 23rd March 2018. Since the departure of Diamond Lee in July 2016, the fund has been managed by OMGI’s Asian equities team.
” Ping An of China Asset Management to Manage $74 Million Old Mutual China Equity Fund “
OMGI believes that Ping An Asset Management, a specialist China asset manager with extensive research teams locally in the region, is well positioned to meet the fund’s investment objective.
Ping An Asset Management is one of the most established investors in Chinese equities. It has a professional stock investment research system and process. Through quantitative and qualitative analysis, the firm’s equity investment team aims to achieve long-term stable investment value and growth. The fund will be managed by its senior portfolio managers, Vincent Che and Eddie Lau, who have combined experience of over 22 years in investment management.
Warren Tonkinson, Managing Director, OMGI:
“We’re delighted that Ping An Asset Management will be taking over management of the Old Mutual China Equity Fund. As one of the most established, specialist Chinese asset managers, we believe this is a significant coup for investors in the fund, who are set to benefit from the team’s wealth of experience.”
Chi Kit Chai, Head of Capital Markets & Chief Investment Officer, Ping An Asset Management:
“With Chinese economic fundamentals continuing to look positive and plenty of opportunities for stock selectors to find undervalued investments, now is certainly an opportune time for us to take over management of the Old Mutual China Equity Fund. We look forward to working with the team at OMGI and identifying long-term investment opportunities from across our unique and varied market.”
Source: Official Press Release
Old Mutual International is the international arm of Old Mutual Wealth, one of the leading retail investment business. Old Mutual Wealth oversees £131.3 billion in customer investments (as at 30 September 2017).
Old Mutual Wealth is part of Old Mutual plc, a FTSE 100 group that provides life assurance, asset management, banking and general insurance. Old Mutual is trusted by more than 19.4 million (as at 31 December 2016) customers across the world and has a total of £212.3 billion of assets under management (as at 30 June 2017).
- Origin: South Africa
- Revenue: £18,600 million
- Employees: 68,000
Official Website: www.oldmutualinternational.com
News & Media: Press Release
Updated on 8th December 2017