Old Mutual Global Investors, part of Old Mutual Wealth, has announced that John Peta, Head of Emerging Market Debt, will take over as fund manager on the US$168 million Old Mutual Emerging Market Debt Fund, effective from 21 January 2016, subject to regulatory approval.
The Fund, which is currently sub-advised by Stone Harbor Investment Partners LP is a sub-fund of the Dublin domiciled Old Mutual Global Investors Series. Its objective, to achieve asset growth through investment in a well-diversified portfolio of fixed and variable rate debt securities issued in emerging markets, will remain unchanged.
OMGI believes investors in the fund will benefit from John’s wealth of emerging market debt investment experience. He joined the business in March 2015 and has managed the US$115 million Old Mutual Local Currency Emerging Market Debt Fund since April 2015. He started his career in fixed income in 1987 and has spent 18 years specialising in emerging market debt investing.
OMGI has also proposed a change to the investment policy of both the Old Mutual Emerging Market Debt Fund and the Old Mutual Local Currency Emerging Market Debt Fund. This change, which will be effective 21 January 2016, subject to regulatory and shareholder approval, will allow the manager to increase the use of derivatives.
John Peta comments: “I look forward to taking on the management of the Old Mutual Emerging Market Debt Fund and identifying areas for growth opportunities. As we move into 2016, I believe emerging market debt will be an appealing investment for those looking to benefit from attractive yields across various regions, including Asia, Latin America and the Middle East”
Warren Tonkinson, Managing Director, Old Mutual Global Investors comments: “John Peta has a great deal of experience managing emerging market debt funds, which investors in the Old Mutual Emerging Market Debt fund are set to benefit from. By increasing his flexibility to use derivatives, John will have greater freedom in his portfolio management style; something we believe will deliver additional client value.
“I’d like to take the opportunity to thank Stone Harbor for their support in managing the fund until now.”