UK - Investec Asset Management is going all out to boost its pension fund business, according to newly appointed global head of institutional business, Mark Samuelson.
The London arm of the South African Investec Group recently boasted a spate of new institutional mandates - principally from charities and insurers - following the completion of its institutional line-up which also includes the hiring of Barclays Global Investors’ Gitu Punjabi as Investec’s head of UK institutional marketing.
According to Samuelson, who joined the Investec Group 10 years ago from accountancy firm Grant Thornton Kessel Feinstein, Investec has made substantial investment in its UK asset management business since it acquired Guinness Flight Hambro in 1998.
A series of senior investment appointments include Paul Griffiths, who joined from Invesco as head of fixed income, and Nick Mottram, who was appointed head of equities from Schroder Investment Management. Both Mottram and Griffiths have looked to strengthen their teams by appointing a number of fund managers and refining Investec’s investment process and controls. These new processes have since been presented to investment consultants over recent months with positive feedback, said the firm.
During this time the firm effectively closed its door to new pension fund business, preferring to defend existing mandates. “This [strategy] was more by design then anything else,” said Samuelson, who added that the firm has recently responded to a number of rfps.
At the end of February 2002, Investec managed assets of approximately £16bn on behalf of clients - £1bn of which is in pension funds. It provides specialist UK equities, global equities, global and UK fixed income, liquidity management and balanced products.
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