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Investec seeks economies as it merges offshore fund ranges

Investec Asset Management is merging its 264m Guernsey-based international accumulation fund range into its 1.51bn global strategy range to avoid duplication.

The firm says it is striving to achieve economies of scale for clients while improving the scale of its core offshore platform.

The combined global strategy range will have 26 sub-funds including the global energy, global strat-egic value and global high-income bond funds.

Investec says assets in its Guernsey-based funds have recently risen by over 404m due to increased sales in continental Europe, Hong Kong and Taiwan.

Offshore marketing director Mike Ryder Richardson says: “We are continually looking at ways we can improve our fund offering to investors. The recent changes in UK tax regulation allow us to remove unnecessary duplication within our range to the benefit of our shareholders in the form of reduced cost.

“Subject to shareholder approval, we will in future be able to offer a single consolidated fund range.”

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As in all legislation where somebody tries to cover all the bases, they inevitably find out that it is impossible to do so and when it is a desperate Government trying such a ruse, they eventually revert to common law.

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