Old Mutual Preps Dublin-Domiciled Mid-Cap Fund

Mar 9 2010 | 3:38am ET

Old Mutual Asset Managers will launch an on-shore version of its British mid-cap hedge fund in May.

The Old Mutual UK Specialist Absolute Return Fund will use the same strategy as Old Mutual’s UK Specialist Equity fund. It will be domiciled in Dublin.

“Absolute return funds are an increasingly important part of the investment universe as investors look to diversify their portfolios and increase exposure to non-correlated assets,” Matthew Nagele, group managing director for distribution, said. “The launch of the fund will enable a broader audience to take advantage of OMAM's absolute return investment expertise within the mid and small-cap area of the U.K. equity market.”

The new fund will be managed by Luke Kerr, who heads Old Mutual’s UCITS III-compliant UK Dynamic Equity.

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