STEPHEN CRANSTON: Old Mutual’s new boutique must prove itself as the ground shifts
Big ask for Titan to replace award winner Ian Heslop and find value in pricey global equities
The pendulum has certainly swung in just a few months. Back in November many were trying to get their money out, even at R14 to the dollar. Now at about R12/$ — when foreign assets are cheaper — it is much harder to persuade investors to take out their money. This certainly makes life harder for Titan, the not very modest name of Old Mutual’s latest boutique. Any allusion to Marvel Comics is purely intentional. This boutique promises a competitive offering in global equity. To be viable it has to prove that on merit it deserves to see the Old Mutual balanced team move their global equity allocation. Currently, the bulk is managed by the US fund managers formerly owned by Old Mutual plc, such as CopperRock and Barrow Hanley. An even tougher task for Titan will be to replace highly regarded and multiaward winning Ian Heslop, manager of the Old Mutual Global Equity Fund. Heslop and the single manager outfit is not even part of the UK-based Old Mutual Wealth any more so there are no str...
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