OMAM's Murphy turns over entire quant fund portfolio

Old Mutual recent recruit Simon Murphy has turned over the entire portfolio of his UK Select Equity f...

Old Mutual recent recruit Simon Murphy has turned over the entire portfolio of his UK Select Equity fund after the group decided to ditch the underperforming quant investment process on the fund. Changes include moving from an overweight to underweight in banks and cutting holdings down to just 41 stocks in a bid to revitalise performance. The £87m had struggled under the group’s quant team and entered the credit crunch heavily overweight financials. The fund currently sits in the bottom quartile over one, three and five year timescales, according to Morningstar. Murphy has adopted a...