Old Mutual to sell London-based Rogge Global

Financial services group Old Mutual has agreed to sell London-based fixed income asset management business Rogge Global Partners to Allianz Global Investors.

The company, which did not disclose any financial details, said the deal is expected to complete in the second quarter of the year.

Rogge had £24.1bn of funds under management as at 31 December 2015.

At 1013 GMT, Old Mutual shares were down 2.1% to 157.90p.