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September 4, 2017

Old Mutual Wealth to split fund management operations

Old Mutual Wealth has announced plans to split its fund management business into two parts, as it readies for a managed separation from parent Old Mutual in 2018.

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GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
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The firm will now separate the £16bn asset portfolio of Old Mutual Wealth. The multi-asset capability will be led by Paul Simpson, who has been named CEO and an executive committee member at OMW, subject to regulatory approval.

Old Mutual Global Investors (OMGI), headed by Richard Buxton, will now focus on the single strategy range.

Old Mutual Wealth also said that it is currently exploring “internal and external structures for the single strategy business to continue to develop it further”.

There is no change to any of the investment management teams or product ranges, according to Old Mutual Wealth.

Old Mutual Wealth CEO Paul Feeney said: “Investment management remains at the core of the business and multi-asset management and discretionary fund management are cornerstone capabilities. They are critical components to ensure we continue to deliver good customer outcomes, as well as supporting the ongoing retention of assets.

“The creation of a dedicated multi-asset business, led by Paul Simpson, is a further step to enhance Old Mutual Wealth’s future prospects.”

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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