OptiMix has awarded a global bond mandate to boutique manager Omega.
Multi-manager OptiMix has appointed boutique investment manager Omega to its manager line-up.
Omega will manage a global bond mandate for the ING-owned OptiMix.
"Omega's size allows them to move quickly and stay responsive, applying the smart use of technology for trading in global bonds," ING Investment Management chief investment officer Emmanuel Calligeris said.
Omega managing director George Vassos said investors were increasingly demanding customised global bond mandates.
"Clients with mandates worth $52 million to $62 million want customised solutions for their global bond portfolios, however, they have found that it is something the bigger managers can't do," Vassos said.
He said the global financial crisis meant the traditional approach of managing fixed income through global aggregate mandates was no longer effective.
Fixed income benchmarks, such as the Lehman Brothers Aggregate Bond Index and Barclays Capital Aggregate Bond Index, were no longer relevant, he said.
"New rules apply with a back-to-basics approach to investing. This means choosing investment-grade bonds issued by companies with low debt and strong balance sheet, which have a high profitability of paying back debt as bonds mature," he said.
Omega was established in May 2008 by former Vanguard staffers Vassos, Mathew McCrum and Andrew Gruskin.
The Macquarie Global Investments-backed boutique has about $200 million in committed funds.
