Outsourcing remains the key for Investec

Investment strategies - group report

Despite difficulties on Albert Morillo"s European Fund, Investec remains convinced that outsourcing key funds to investment boutiques is the way forward

Since its purchase several years ago of Guinness Flight, a smallish City outfit known for its currency and bond funds, Investec has worked hard to secure the attention of financial advisers. Part of its strategy has been to outsource the management of key funds to investment boutiques. Its European fund is run by Black Rock for example, while its North American trust, which raised £75m in its first year, is managed by Thornburg out of Santa Fe. On the other hand its UK funds, such as the Blue Chip and Cautious Managed trusts, are run by the in-house team. These managers either apply a mod...