Old Mutual Wealth has completed the acquisition of a 50% stake in Intrinsic Cirilium Investment Company Limited (‘Cirilium’) from Henderson Global Investors. Old Mutual Wealth now oversees 100% of the £2 billion Cirilium fund range which will be managed by John Ventre’s multi-asset team within Old Mutual Global Investors.
The acquisition of Cirilium is part of Old Mutual Wealth’s strategy to create the leading investment business combining financial advice, platform, investment management and asset management. It follows the earlier acquisition of Intrinsic, the UK’s largest network of financial advisers, where Cirilium is the core investment proposition for Intrinsic’s restricted financial advisers.
Following the completion of the acquisition Paul Craig has joined Old Mutual Global Investors as Manager of the Cirilium multi-asset fund range. Paul has managed the Cirilium funds since March 2009 and has over 25 years’ experience in the industry. Investors in the range now stand to benefit from access to the substantial resources, experience and expertise at Old Mutual Global Investors.
Paul joins Old Mutual Global Investors’ 12 strong multi-asset team that manages over £8 billion.
The fund range will now be called Old Mutual Cirilium. It consists of five multi-manager funds and four passive funds, each matched to a different investor risk profile.
Paul Feeney, chief executive of Old Mutual Wealth, comments:
“Full ownership of Cirilium provides continuity to financial advisers and their clients, whilst at the same time enabling them to benefit from the extensive resources of the multi-asset desk within Old Mutual Global Investors. This is now one of the leading multi-asset teams in the market, providing a wide range of investment solutions across all major platforms and providers.”
John Ventre, Head of Multi-Asset at Old Mutual Global Investors comments:
“I am really pleased to have Paul join the OMGI multi-asset team to continue to manage Cirilium. Under Paul’s management, the Cirilium funds have a strong history of delivering for investors. Paul’s skills and long experience are complementary to those of my existing team, meaning we are able to give investors in the Cirilium funds continuity of management while strengthening further the resource available to all of OMGI’s multi-asset funds. This will allow Cirilium and our other market leading multi-asset solutions to continue to deliver the outcomes our investors expect.”
|
