Investec is restructuring its Middle East and Africa fund range in a move that will see two funds merged and another wound down.
The firm is merging its offshore £19.6m Investec GSF Africa and Middle East fund and £11.6m Investec GSF Middle East and North Africa fund into the £50.2m Investec Africa opportunities fund.
The UK-domiciled £14.4m Investec Africa Middle East fund will be wound down, with investors offered the opportunity to transfer into the Investec Africa opportunities fund.
Investec Asset Management UK client group managing director David Aird (pictured) says: “We constantly seek to review our range from a client demand and efficiency perspective.”
He adds: “Having looked across our range, we have seen that investors are looking for broad exposure such as that offered by the Investec Africa opportunities fund, which caters to investors wishing to benefit from the opportunities and growth presented by Africa, ensuring efficiency across the fund range.”