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Investec rides on Euro star

Investec Guinness Flight&#39s swoop for former Scottish Widows European fund

manager Albert Morillo is paying off just days after the launch of its

restructured European funds.

Investec and Morillo met leading multi-managers, including Henderson,

Lazard and Rothschild, on Friday to promote the funds. The funds have taken

more than £10m, with multi-managers rushing to put them on their buy lists.

Many multi-managers and IFAs ditched Widows&#39 European fund from their buy

lists when Morillo left to join US outfit BlackRock in December.

But two months ago, Investec signed up Morillo to run its European

offshore and onshore funds in a bid to make inroads in the UK retail

market.

Morillo says he will run the funds in a similar way to the Widows fund,

with a concentrated portfolio of about 40 stocks.

Investec Guinness Flight Unit Trust managing director Jamie MacLeod says:

“We have had a massive positive response.”

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