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Investec to manage MGM fund range

Investec Fund Managers is to take over the management of MGM Assurances unit trust range.
The announcement follows a similar arrangement in 2003 when Investec took over the management of Hargreaves Lansdowns fund range.
MGM Assurance chief executive Gerard Healy says the decision will allow MGM to focus more resources on its core products whilst ensuring the interests of its unit trust clients are looked after well.
Investec Fund Managers joint managing director David Aird says: “We firmly believe that as costs increase consolidation becomes even more inevitable and we have positioned ourselves to take advantage of opportunities such as these.”

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