The company said it will be working closely with discretionary investment management firm Quilter Cheviot, which Old Mutual officially bought in February, to open up new opportunities as it looks to better serve high net worth investors.
With regulatory changes expected to land in South Africa next year – in which advisers will have to move towards more fee based structures – Old Mutual said there is an increasing demand for outsourced investment solutions.
Growing trend
“Old Mutual International is well positioned to benefit from this growing trend,” the company said, pointing out that it already collaborates with its asset management arm, Old Mutual Global Investors, in South Africa to provide investment solutions.
By combining this with access to Quilter Cheviot, Old Mutual said it can offer a full range of “credible outsourced solutions”.
“These will help meet a wide variety of adviser and client needs, from mass affluent right through to the ultra-high net worth,” it said.
Investors in South Africa will be able to access Quilter Cheviot through the Old Mutual International portfolio bond.
Quilter Cheviot will run the portfolio on a discretionary basis, tailoring the investment choice to the specific needs of the client.
Ambition
“It is our ambition to become the leading wealth manager in our markets,” said Steven Levin, chief executive of investment platforms at Old Mutual Wealth.
“Being able to export the investment capability of Quilter Cheviot and Old Mutual Global Investors through Old Mutual International creates a compelling proposition for our advisers and clients.
“South Africa is just the start” he added. “Our future strategy will see us leverage the benefits of a vertically integrated model to more markets, raising the bar on the solutions available to clients internationally.”
