Investec warns of 'headwinds' despite £2.6bn inflows

Depreciating rand weighs on firm

Investec has seen net inflows of £2.6bn in its Wealth & Investment and asset management divisions since the end of March, but warned the group's overall results had been affected by the depreciating South African currency.

In a pre-close briefing statement for the six months to end of September, the group said the "operating environment in the UK has shown continued improvement" which supported levels of activity in its business. However, overall group results were negatively impacted by the depreciation of the South African rand, which is currently hovering around all-time lows at 13.4 to the US dollar, according to the FT. Investec CEO: We are in the best shape since the mid-2000s Investec said its asset management business had seen net inflows of £1.5bn to the end of August as "good business moment...