Investec

FUND MANAGER FOCUS

ENERGY

Investec's Alastair Mundy topped up his high-conviction position in BP last week, saying the oil giant remains a "very interesting investment opportunity".

Investec will rename its Sterling Bond fund under the ‘Strategic' brand next month in a move to more accurately reflect the portfolio's investment objective.

Fund managers are expecting sterling to bounce back later this year after being one of the casualties of strong currency volatility this year.

Shift into equities delivers average return of 26.8% over one year, with Henderson Global Strategic Capital top of performance tables over the period

Investec Asset Management, which runs over $4bn in active currency funds, believes sterling is the cheapest of all major global currencies.

MUNDY'S MOMENT

Investec Asset Management posted a record £4.7bn net inflow over the year to 31 March.

Investec Structured Products has raised £3.8m for its first VCT launch. The venture capital trust, which is run in partnership with Calculus Capital, will invest in a combination of structured products and venture capital investments.