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Article: OM merges pair of Far East funds.(Old Mutual Asset Managers (UK) Ltd.)(Brief Article)
- Article from:
- Investment Adviser
- Article date:
- April 28, 2003
CopyrightCOPYRIGHT 2003 FT Business. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Hayley Frain
OLD Mutual Asset Management has merged its Hong Kong and China Trust with its Asian Select fund.
Simon Weston, manager Asian Select fund, replaced Harry Lewis, former manager of both the Hong Kong and China Trust and the Asian Select fund, who resigned last week.
The Old Mutual Asian Select fund lost 38.7 per cent over one year against a sector loss of 28.2 per cent. The fund is ranked bottom out of 66 funds.
Mr Weston said the GBP9.81m Hong Kong & China trust was too small to be viable.
He said: ?The fund is quite small and therefore the costs are quite expensive for unit holders. A larger pool of assets will ...