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Morillo to run Euro fund for Investec

Investec Asset Management is offering a European fund managed by star fund manager Albert Morillo.

The euro-denominated pan-European fund will be part of Investec&#39s Dublin-based umbrella, Investec Select Funds. It takes the total number of funds in the umbrella to seven.

The fund will mirror Investec&#39s Guernsey-based international accumulation panEuropean fund, which is AA-rated by Standard & Poor&#39s. The fund holds a concentrated portfolio of between 30 and 40 stocks, with the top 10 holdings representing 35 to 40 per cent of the portfolio.

The fund has a minimum investment of £2,000, an initial charge of 5 per cent and annual charge of 1.5 per cent. Commission is 3 per cent.

Managing director Jamie MacLeod says: “The launch of another European equity fund may not seem particularly noteworthy. However, this is no ordinary fund. The Investec pan-European fund will be run by Albert Morillo&#39s world-class investment team at BlackRock, which has demonstrated its ability to weather changing market conditions consistently.

“Morillo&#39s performance track record ensures our new pan-European fund will be seen in a different light and provides Investec with a powerful proposition in one of the most important investment sectors for European investors. It will significantly boost our product offering in continental Europe and considerably broaden the appeal of our principal range, which we expect to be expanded further still.”

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