People Moves
Old Mutual Global Investors Names New Asian Equity Head
Old Mutual Global Investors has appointed Blackrock’s Joshua Crabb as head of Asian equities, effective 1 October 2014.
Old Mutual Global Investors, the asset maangement arm of Old Mutual Wealth, has appointed Blackrock’s Joshua Crabb as head of Asian equities, effective 1 October 2014.
Crabb will start at Old Mutual Global Investors in London and will return to Hong Kong to work for Old Mutual Global Investors (Asia Pacific) Limited following regulatory approval.
Joshua will be supported by a new team of two joined by analysts analysts, Kris Whitlock and Dmitry Lapidus, who worked alongside him in Blackrock’s Asia pacific equity team.
Reporting to Julian Ide, chief executive of Old Mutual Global Investors, Crabb will lead the development of the Asian equities product range.
From 15 October, the team will manage the $270 million+ Old Mutual Pacific Equity fund and the $40 million Old Mutual Asian Equity fund, sub-funds of the Dublin domiciled Old Mutual Global Investors Series plc umbrella fund.
Crabb’s investment career spans over 18 years. He has worked with BlackRock in Hong Kong since 2007 and before this was at Prudential Asset Management in Hong Kong and Bankers Trust in Sydney.
He will strongly support our strategy of focusing on Global Financial Institutions, supported by our Latin America, Europe and Asian distribution teams,” said Julian Ide, chief executive of Old Mutual Global Investors.
“I think that this news will be very exciting for our clients. We are designed for a changing world, allowing each fund manager to invest decisively with no house style. I believe that this gives our fund managers the freedom they need to perform, to seize opportunities in a changing global economy and do what they do best – deliver better investment solutions,” he added.
According to OMGI, Crabb’s BlackRock Global Funds Asia Pacific Equity Income fund returned 59.5 per cent since inception (18 September 2009) until the end of June 2014, when Crabb ceased to have responsibility for the fund. This compares to a return of 39.6 per cent for the fund’s benchmark, the MSCI AC Asia Pacific ex Japan and 35.5 per cent for the peer group, the LM Equity Asia Pacific ex Japan, over the same period.