Investec AM's Simon Brazier has bought an overseas-listed stock for the first time in his investment career, adding Visa to his £588m UK Alpha portfolio.
The former Columbia Threadneedle manager (pictured) said he added the credit card firm, which is listed on the New York Stock Exchange, at the end of last year after it was brought to his attention by Investec's Global Franchise fund manager Clyde Rossouw. It is currently in the top ten holdings of this fund at 4.5%. Brazier said: "Never in my career before have I bought an overseas-listed company but having joined Investec and working with Clyde, the manager of our Global Franchise fund that was nearly 13% ahead of the global market last year, I said I would be prepared to look at those...
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