Old Mutual Asset Managers (OMAM) has announced that it has been appointed as a new fund manager for South Yorkshire...
Old Mutual Asset Managers (OMAM) has announced that it has been appointed as a new fund manager for South Yorkshire Passenger Transport Authority pension fund.
The company has been awarded an international equity mandate of some£28m, to be measured against a benchmark of MSCI World ex UK.
The assets will be invested according to OMAM's active systematic process, a feature which was instrumental in South Yorkshire Passenger Transport Authority's choice of OMAM as manager.
OMAM's innovative 'Participation Fee' - which incorporates a low fixed charge per year, independent of fund size, and a charge which is made only if performance exceeds an agreed benchmark - will be applied to the fund.
OMAM has been managing institutional assets since 1995 from, predominantly, South African pension fund clients. The company launched its segregated service in the UK in April 1999, and since that time has been successful in attracting attention from public funds in the US and the UK. In November last year OMAM won a global equity mandate from the Middlesex Retirement System, and has now followed it with this mandate from a UK local authority.