View more on these topics

Investec won’t open frontiers on Africa funds

Investec says it is resisting any temptation to offer UK retail versions of its two offshore Africa funds despite demand from advisers.

The South Africa-based fund firm has two institutional funds that invest in the frontier market – the $200m pan-Africa and $150m Africa funds.

The Guernsey-domiciled funds were launched in 2005 and 2007 under the management of Roelof Horne and Chris Derksen.

Investec Asset Management managing director David Aird says the funds are not necessarily suited to the mass market.

He says: “These funds invest in what are perceived to be some of the best ideas coming out of Africa, some of which come from the more esoteric areas for value.

“The funds have a high minimum investment and, considering the nature of the market, we feel we need to allocate money for the long term, which does not necessarily suit the retail investor. There is also the question of market liquidity.”

Aird says the group is looking at a number of Africa products but there will be no launches until 2008.

Hargreaves Lansdown investment manager Ben Yearsley says: “It is a shame Investec has not brought these funds to market as it seems like New Star has stolen a march on it but it has its own rationale for launches.”


LV= appoints UK equities head

LV= Asset Management (LVAM) has continued building its fund management arm with the appointment of Neil Worsley as head of UK equities

F&C loses management duo

F&C has been hit with a double blow after fund managers Luke Newman and Makis Kaketsis quit the firm to join a global hedge fund group.

Positive force for change

During casual conversation, I was nominated as a disruptive force by three IFAs at the Personal Finance Society conference. I have thought about that long and hard for the past 48 hours. The reason for the nomenclature? I am opposed to the retail distribution review. I believe it is disruptive and that is why I […]

Market madness

Ever since the sub-prime crunch took hold in the Summer it seems predicting the market has practically become impossible to do – if that wasn’t the case before.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm