Tag Archive 'Old Mutual'

Jul 14 2009

Two SA asset managers to work for charity

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Two SA-born asset management companies are among a group of twelve asset managers which have banded together for charity.

Investec Asset Management and Old Mutual Asset Managers have joined forces with Artemis, Aviva Investors, Axa Investment Managers, BNY Mellon, F&C, Ignis, Invesco Perpetual, JP Morgan, Martin Currie and Threadneedle to launch a unique multi-manager vehicle, called Invest & Give Fund, and which will donate a proportion of the management fee it earns to charity.

The annual fee of the fund is 2.25% and 0.6% of this will be donated to The Prince’s Trust, a youth charity which has given 600,000 young people the skills and qualifications to find a job since its launch in 1976, reported Portfolio-Advisor.com.

The fund is the first of its kind to be eligible for Gift Aid, which equates to an additional 28p for every £1 that the charity receives from investors in the fund.

The responsibility for managing the fund fell to North Investment Partners’ John Husselbee. He will invest across asset classes and regions with an aim to achieve long term capital growth, wrote Portfolio-Advisor.com.

Former Conservative cabinet minister The RT Hon the Lord Young of Graffham, president of The Prince’s Trust Patrons Network and chairman of the Invest & Give Advisory Committee, said: “For the very first time Invest & Give will align the interests of the City, individual investors and the community in an endeavour that will produce, over and above the usual returns because it will help young people back to work through the work of The Prince’s Trust. Invest & Give is setting a challenge to the financial community by creating a socially responsible investment and I hope that this will be but the first of many such funds in the years to come.”

The fund will sit in the IMA Balanced Managed sector. The standard initial charge is 2%, though an offer period – with the initial charge discounted to 1% – will run until 17 August. The minimum investment is £1,000.

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Apr 03 2009

Take your hat…and R14 million

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Jim Sutcliffe received a severance package in excess of £1 million, after his resignation and immediate departure as group chief executive of Old Mutual last September, reports Citywire. Full report here.

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Nov 06 2008

Old Mutual loses CFO

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South African insurer Old Mutual just cannot come to rest. After the CEO resigned in September, the CFO resigned yesterday. The Financial Times said today the resignation of the CFO “comes at a difficult time for Old Mutual”.

Old Mutual has a primary listing on the JSE and a secondary listing on the LSE.

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