OMGI outsources China equity fund to Hong Kong AM firm

Ping An Asset Management

Old Mutual Global Investors (OMGI) has outsourced its $75m Old Mutual China Equity fund to Hong Kong firm Ping An Asset Management, following the exit of Diamond Lee, who managed the firm's Asian equities team until July 2016.

OMGI said Ping An will provide it with extensive research teams locally in the region while remaining well positioned to meet the fund's objective. The fund will be outsourced from 23 March and there will be no change to the investment process, objective and policy. Senior portfolio managers Vincent Che and Eddie Lau will manage the fund. Warren Tonkinson, managing director at OMGI, said: "We are delighted that Ping An Asset Management will be taking over management of the fund. Diamond Lee leaves OMGI after 20-year fund management career "As one of the most established, special...