OMAM gets Swiss approval
From Products Mar 16 2010 BY: Simon Danaher
, Online News Editor
, International Adviser
Old Mutual Asset Managers (OMAM) has received approval to distribute its Irish-domiciled fund range in Switzerland.
The funds approved by the Swiss Financial Market Supervisory Authority include the Old Mutual Global Bond Fund, managed by Stewart Cowley, and the Old Mutual Global Equity Absolute Return Fund.
All of the approved funds are sub-funds of Old Mutual Dublin Funds, a Ucits fund authorised by the Irish Financial Services Regulatory Authority.
The Old Mutual Global Bond Fund aims to deliver a total return through investment in a broad range of fixed income securities and currencies. The fund makes use of the wider powers available under the Ucits III regulations and can use derivatives to create a negative duration position in the event of rising interest rates, giving the manager greater flexibility to perform throughout the interest rate cycle.
The Old Mutual Global Equity Absolute Return Fund, managed by OMAM’s Quantitative Strategies team, is market neutral and targets cash-plus returns over the longer term in all market conditions. It seeks to achieve this through a global equity market neutral portfolio, designed to have low correlation with underlying markets.
Matthew Nagele, managing director, distribution at OMAM, said: “Switzerland is a key market for OMAM and we have a strong commitment to expanding our business here, therefore we are delighted to have received regulatory approval in order that we can do so.”