The company will perform sales, marketing and client-service functions for participating Old Mutual member firms and will offer a range of specialist investment strategies from multiple firms. They will also provide managed account program sponsors a single point of contact and a support team covering the various managers and strategies.
Four of the Old Mutual firms will participate in the initial roll-out of Old Mutual Investment Partners. Value equity specialist Thompson, Siegel & Walmsley, growth equity specialist Provident Investment Counsel, real estate specialist Heitman, and international equity specialist Clay Finlay comprise the foursome. The four firms manage a total of more than $3 billion in a variety of managed account programs.
The company said the reasons behind the move were two-fold. First, it wanted to formalize its commitment to the managed account channel by offering an array of capabilities that most effectively address the needs of program sponsors. Secondly, the company wanted to collectively leverage its resources to build the distribution infrastructure and client-service team necessary to compete in the managed account marketplace.