Investec

Investec Asset Management has revealed it intends to break into the top five independent asset managers by assets within the next five years, after seeing strong inflows in the last year.

Investec Asset Management's Alastair Mundy has revealed buying JJB Sports five years ago was the biggest mistake of his investment career.

MUNDY'S MOMENT

Investec Asset Management is the latest group to launch a range of clean share classes ahead of the year-end RDR deadline.

Philip Shaw, Investec's chief economist, expects the Bank of England to extend its quantitative easing programme on Thursday, arguing more liquidity needs to be pumped into economy to drag the UK out of recession.

Investec Asset Management's energy fund managers, Mark Lacey and Jonathan Waghorn, are leaving the firm to join a physical commodities trader.

Investec is launching an inflation-linked fund, targeting a return of CPI inflation plus 5%, as part of an expansion of its Managed Solutions fund range.

THE BIG QUESTION

Canny investors should have heeded the "clear signal" to buy equities in December, as they are set to rise despite the threat of a bear market in bonds, said Investec's Max King.

Wealth manager Williams de Broë will be renamed Investec Wealth and Investment following last year's takeover of the group.