Ian Ferguson, Co-Head: Old Mutual Cash and Liquidity Solutions. 
Old Mutual Cash and Liquidity Solutions offer solutions that allow corporates to put this and other idle cash to work, generating yield while keeping the capital liquid and readily accessible.
Ian Ferguson, co-head of Old Mutual Cash and Liquidity Solutions says, “Whilst corporates need to hold cash for operational purposes, in this persistent uncertain macro-economic environment, across several industries they are hesitant to take big risks. What we offer is innovative solutions, the ability to compete head-on with banks in corporate cash management and delivering consistent yields better than those offered by bank call accounts, across our fund range, without sacrificing liquidity.”
One fund that meets today’s corporate liquidity needs is the Old Mutual Corporate Income Fund. Ferguson explains, “The fund was launched in 2018 and is designed to offer a secure, liquid investment option for corporates while delivering yields above what traditional bank deposits offer. It has grown from around R2 billion in 2023 to just over R11 billion in 2025, reflecting both the demand from cautious corporates and the effectiveness of the fund in a relatively flat market cycle.
It has consistently outperformed its benchmark over 1, 3, 5 and 7 years to October 2025 (returns quoted per annum and gross of Annual Service Fees). The fund is managed by the specialist fixed interest managers, Futuregrowth Asset Managers, an Old Mutual subsidiary who manage the full range of fixed interest funds on behalf of Old Mutual.”
For Old Mutual Cash and Liquidity Solutions, innovation and continuous improvement are important to ensure that the solutions deliver value for clients. A case in point is that until June 2025, the Old Mutual Corporate Income Funds’ mandate determined a term to maturity of any instrument to a maximum of three years.
According to Ferguson, limiting the bank and treasury paper that the fund is permitted to hold to three years when the yield curve is flat, meant that it was difficult for the portfolio manager to get better-yielding instruments without impacting the liquidity of the fund. “So, what we did was to increase the term to final maturity of any instrument in the fund from a maximum of 3 years to a maximum of 7 years.
We also included rand-denominated instruments issued or guaranteed by international banks with a minimum international scale rating of AA- in the mandate. We kept the modified duration at 180 days. This resulted in a fund of high-quality counterparties predominantly exposed to floating rate instruments.
What this did for an already successful fund is that it improved yields without impacting on liquidity or adding any interest rate risk. The fund is now benefiting from the enhancements to the investment mandate including the increase in the term to maturity.
“Our advantage is that as part of a big established organisation with very substantial assets under management, we can negotiate excellent terms with issuers and have access to international banks.
So, we’re offering clients an extremely compelling proposition of an AA+ rated fund with scale, liquidity and yield. It is a low-risk investment mandate with variable pricing, yields that beat bank fixed deposit rates of up to 5 years, a single-entry point providing exposure to a basket of highly rated issuers, operating in a highly regulated environment, managed by experts with all the benefits of scale passed on to investors,” adds Ferguson.
He concludes, “As South Africa’s economy continues to face uncertainty our clients are looking for certainty where they can find it. They want their cash to work for them, but they don’t want to take unnecessary risks. That’s exactly the balance our Old Mutual Corporate Income Fund provides - yield, security, and liquidity, all in one convenient solution.” DM
About
Ian Ferguson, Co-Head: Old Mutual Cash and Liquidity Solutions
Ian has spent over 30 years in various positions in the financial services industry, most of which has involved cash enhancing funds focussing mainly on corporates. He understands the industry extremely well as he had played a key role in building both the Nedgroup and Stanlib cash businesses.
Ian was part of the team, with Sean Segar, that built the cash assets under management to R150 billion between 2011 and 2022 at Nedgroup.
Since joining Old Mutual and launching Old Mutual Cash and Liquidity Solutions in 2023, the team has more than doubled its assets under management to over R50bn.
Ian is passionate about being part of a team that enables clients to earn a higher rate of interest than bank accounts without compromising on liquidity or risk.
He holds an International Capital Markets Qualification from the Securities Institute of London.