OMAM to launch UK long/short fund for Murphy

Old Mutual Asset Managers is to launch a long/short UK equity fund for Simon Murphy.

The Dublin-domiciled UK Opportunities fund will launch in the fourth quarter, subject to regulator approval, investing across the market cap spectrum. Murphy will be supported by Ashton Bradbury, head of equities. Murphy is head of the UK large-cap team and also runs the £79m UK Select Equity fund. The new fund will be directional rather than market neutral, aiming to deliver positive returns over a typical investment cycle of three to five years and OMAM said it believes it will have less volatility than a traditional long-only fund. Murphy said: "Many stocks are significantly und...