OMGI's Asian equities head Crabb departs; Global equities team to run funds

The firm's global equities team, headed by Ian Heslop, will take over the $180m Old Mutual Pacific Equity and the $421m Old Mutual Asian Equity Income funds from Crabb, who is leaving the business in May to pursue other opportunities.

The Hong Kong team departing also comprises of Taylor Connaughton and Kris Whitlock.

Crabb (pictured) joined OMGI as Asian equities head from BlackRock in 2014. He has over 20 years' experience with firms such as Prudential Asset Management and Bankers Trust.

The investment approach on the funds will be changed to reflect the systematic investment process of the global equities team as opposed to the current bottom-up approach.

This means stocks will be assessed in terms of valuation, quality, price trends, stable growth, prospects, sentiment and company management.

There will be no changes to the fund's ongoing fees.

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Warren Tonkinson, managing director at OMGI, said: "As a part of our regular fund review process we look to identify opportunities to add value for clients.

"We are confident that investors in the Old Mutual Pacific Equity fund and the Old Mutual Asian Equity Income fund will benefit from the vast experience of the global equities team, who have consistently demonstrated outperformance in this asset class.

"We would like to thank Josh and the team for managing the funds until now and wish them the best for the future."

The group added it will retain a distribution presence in Hong Kong.

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