Investec adds global and emerging market funds

Investec Asset Management unveiled two funds last week, announcing global contrarian and emerging markets multi-asset portfolios.

The Luxembourg-domiciled Inves­tec GSF Global Contrarian Equity fund will be managed by Alastair Mundy, the head of the group’s contrarian team, and Mark Wynne-Jones, a fund manager in the same team

As a mirror of the managers’ British-domiciled £45.4m Investec Global Special Situations fund, the global contrarian portfolio will seek out underperforming stocks with a favourable risk/reward ratio and avoid following long-term macro-trends or themes. (article continues below)

The fund will have a minimum investment of $3,000 (£1,918) and an initial fee of 5%, with an annual management charge of 1.5%.

Since its launch in December 2007, the Investec Global Special Situations fund has delivered annualised returns of 6%, compared with the IMA Global sector’s average return of 0.6%.

Investec will also launch a dedicated emerging markets multi-asset fund to offer investors a “one-stop shop” for emerging markets investing.

The Investec GSF Emerging Markets Multi-Asset fund will be run by Philip Saunders, the head of global multi-asset investments, and John Stopford, the co-head of fixed income.

They will invest in emerging market equities, local currency debt and hard currency debt, aiming for lower volatility than an equity-only strategy.

Saunders also co-manages the £386.9m Investec Multi Asset Protector, the £37.7m Investec Managed Growth and the £22.3m Investec Balanced Managed funds. Stopford runs the £550.8m Investec Target Return and the £333.9m Investec Strategic Bond funds.