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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.


BTL purchase mortgages up 5 per cent in January

Hampton Mortgages says that buy-to-let purchase mortgages taken out in January increased by over 5 per cent compared to December 2007.In December 2007 BTL purchase mrotgages were at 39.53 per cent, this increased to 44.54 per cent in January 2008. The broker’s January best buy mortgage tracker’s figures reveal that the BTL market remains resilient […]

Primary lessons

The FSA’s proposals for primary advice are the latest attempt to strike the right balance between customer access and appropriate financial outcomes. Could the approach suggested in the retail distribution review achieve this or will it fail to make the hoped for impact?

Uinsure ahead of targets with 800 agents

Web-based general insurance panel Uinsure has signed its 800th firm to use its services for buildings and contents and mortgage payment protection insurance. Ashton Mortgage & Financial Solutions was the 800th firm to sign up. With 1,000 firms expected by the end of the first year, Uinsure chief executive Simon Taylor says they are now […]

Select and thrive

My all-time favourite UK fund manager is Nigel Thomas, who runs the Axa Framlington UK select opportunities fund. I have been recommending his various funds for over 20 years. He joined Axa just over five years ago from ABN Amro and has since grown the UK select opportunities fund by 141.5 per cent to December 31, 2007, being placed 13th out of 226 funds in the sector and beating the average fund by over 50 percentage points.


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