Investec expands with the acquisition of MGM funds

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Investec Asset Management has acquired six unit trusts from MGM, with total assets of more than £35m...

Investec Asset Management has acquired six unit trusts from MGM, with total assets of more than £35m. The transition becomes official from 21 February and includes UK Growth, UK Special Situations, European Equity, American, International Equity and Global Bond portfolios. David Aird, joint managing director at Investec, said the MGM funds would be rebranded Investec MGM and be run by Investec managers from late February. Although plans have not been formalised, it is likely the MGM funds will be merged into existing offerings from the group. Last year, Investec purchased 10 Hargreav...