Investec brings £300m American fund in-house for Mundy
Investec Asset Management has brought its £300m American fund in-house under the management of Alastair Mundy and Mark Wynne-Jones.
The fund was previously managed by Thornburg Investment Management and is currently fourth quartile in the Investment Management Association North American sector over three years to 30 July, 2012. The fund has returned 18.9 per cent over that timespan compared to an average return of 51.5 per cent for the sector.
Thornburg Asset Management has been running the portfolio since 2002.
Investec says the investment objective of the fund will remain unchanged with the team focusing on out of favour companies with strong balance sheets with the potential for a strong share price recovery.
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