OPM reshuffles to EM debt

OPM Fund Management has made a slew of fund changes in the past month, with Investec Asset Management among the main beneficiaries.

OPM's Balanced Managed fund sold out of the Old Mutual Corporate Bond fund, which it says has "done its job in the recovery in bank debt", and alocated to Investec's Emerging Markets Debt fund, run by Peter Eerdmans. Tony Yousefian, OPM's CIO, says: "We like fixed income overall, but we feel the potential for returns from EM debt is greater at the moment." OPM's fund also trimmed back M&G High Yield Corporate Bond fund, a move Yousefian says was to raise cash. Part of this is going into Altis Resources, which engages with mining companies' managers over their strategy. OPM Balan...