Old Mutual seeds new Oxley fund with £100m

Fund launch in October

Old Mutual Global Investors is to launch an Absolute Return Government Bond fund for the former Ignis rates team, headed up by Russ Oxley, seeding the vehicle with £100m.

The fund will launch on 7 October, a year since it was announced Oxley (pictured) and his team were to join OMGI from Ignis, where they ran a similar fund. Oxley will be named lead manager and will be supported by co-managers Adam Purzitsky and Paul Shanta. Seeded with £100m from Old Mutual, the fund will aim to deliver positive total returns on a rolling 12-month basis with stable levels of volatility uncorrelated to bond and equity market conditions. It will target cash plus 5% per annum. The managers aim to have low correlation with other absolute return strategies thanks to a s...