Stat Watch: Investec European

Albert Morillo's performance on Investec European has moved from fourth quartile to second but his f...

Albert Morillo’s performance on Investec European has moved from fourth quartile to second but his future on the fund may be under debate in the coming months due to the merger of his employer Blackrock and Merrill Lynch. Morillo has steadily underperformed for several years and yet investors in the vehicle have for the most part, remained loyal. The £211m portfolio is still sitting on five year losses, one of just 19 funds in the Europe ex UK sector to be doing so. The fund fell 2%, before charges, over the cumulative five years ending 6 February compared to a peer group mean gain of 9.9...