Old Mutual Global Investors (OMGI) has officially renamed itself Merian Global Investors, following its split from Old Mutual late last year.
Last December Old Mutual agreed to sell OMGI to veteran fund manager Richard Buxton, who along with colleagues completed a management buyout of the company, in partnership with private equity group TA Associates.
The multi-asset business of OMGI, though, was retained by Old Mutual and is now operates under the Old Mutual Wealth brand.
At the start of October the OMGI name changed to Merian Global Investors, meaning that investors with now see their fund names change.
Following its split from Old Mutual and rebrand Merian Global Investors said it will continue to focus on running equity and bond investment trusts and funds. The company has a total of £34.6 billion under management.
The new name of the company is taken from the 17th century German scientist, artist and adventurer Maria Sibylla Merian. According to Merian Global Investors, the original Merian being a polymath reflects its ‘multi-faceted approach’ to investing.
Richard Buxton, chief executive of newly-named Merian Global Investors, comments: "We maintain our philosophy that the most effective investment businesses are large enough to inspire confidence – with big-firm governance and risk management – yet small enough to foster entrepreneurial spirit.
"We continue to be agile enough to adapt to a rapidly changing world, while maintaining our strong commitment to the pursuit of building a profitable and responsible business with differentiated funds, recognising the important relationship between good long-term stewardship and customer satisfaction."
Earlier in September it was announced that Merian Global Investors was in the process of launching a new closed-end investment trust that will invest primarily in unlisted companies.
Merian is following in the footsteps of other asset management companies that have launched trusts aiming to invest in unlisted companies, a result of many firms staying private for longer. This this year Baillie Gifford launched its new US Growth trust which has a remit to invest up to 30% in unlisted companies.
Merian is aiming to raise £200 million for the trust.
This article was first published on our sister website Money Observer.