Absolute Return team and Buxton boost OMGI as AUM jumps 31%

Old Mutual Global Investors has more than doubled its adjusted operating profit in 2014, while assets under management jumped 31%.

OMGI's adjusted operating profit jumped 120% to £33m and its assets under management rose to £21bn from £16bn the previous year. In 2014, net client cash flow more than doubled to £2.5bn from £700m the previous year, with 80% coming from UK third party clients as the group focuses its efforts on the domestic market. The inflows have been driven in part by the expansion of the group's investment capabilities, including its fixed income team. In the second quarter, OMGI hired a fixed income absolute return team, headed by former Ignis manager Russ Oxley, in a sign of ambitious plans ...