OMGI to merge absolute return fixed income funds as Purzitsky and Shanta depart

Joined in late 2014

Old Mutual Global Investors (OMGI) is set to merge its two absolute return bond funds with co-managers of the £746m Old Mutual Absolute Return Government Bond fund Adam Purzitsky and Paul Shanta leaving the firm.

Along with three others on the team, the duo will leave the firm to pursue other opportunities following the merger of the fund into the $100m Old Mutual Strategic Absolute Return Bond fund. Purzitsky and Shanta joined the firm with former colleague Russ Oxley in early 2015 to establish OMGI's first absolute return fixed income team after they quit Ignis Asset Management following its acquisition by Standard Life Investments earlier that year. Oxley subsequently left the firm in June 2016 due to "a difference in opinion" and joined fixed income investment manager Cameron Hume in June ...