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Duo take over Investec energy from Guinness

Investec has replaced Tim Guinness on its flagship global energy fund after recruiting two sell-side analysts from Goldman Sachs.

The veteran fund manager, who is chief executive of Guinness Asset Management, had managed the £235m global energy fund since May 2003 as well as running the £800m offshore version since launch in 1998.

Mark Lacey and Jonathan Waghorn become co-portfolio managers of the fund and are the latest additions to Investec’s commodity team hea-ded by Bradley George.

Lacey, who has worked at JP Morgan and Credit Suisse, was once rated the number one energy analyst by investment survey Thomson Extel.

Waghorn was a five-star rated analyst at investment research firm Starmine. The pair will also be looking to introduce tools to tackle volatility in the commodities sector.

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