Old Mutual Global Investors hired Ping An of China Asset Management (Hong Kong) to subadvise the $71.5 million Old Mutual China Equity Fund, effective March 23, confirmed Paco Lee, a Hong Kong-based spokesman for OMGI.
Warren Tonkinson, managing director of OMGI, said in a news release that the fund's investors will benefit from having one of the deepest specialist Chinese asset managers oversee the fund.
Mr. Lee said Josh Crabb, OMGI's Hong Kong-based head of Asian equities, had managed the fund following the departure of its previous fund manager, Diamond Lee, in July 2016. Mr. Crabb will continue to manage OMGI's $431 million A-shares equity income fund and its $190 million Pacific equity fund.
Vincent Che and Eddie Lau, senior portfolio managers at Ping An Asset Management, will manage the fund now.