Michael Markham, Paul Griffiths and Kieron Nutbrown to manage bond range
Investec is to add two bond funds, a sterling high yield portfolio and an international bond fund to its onshore range when the group Oeics its funds later this year.
Details of the two fund launches are not yet finalised, although Investec has said it intends to bring them to the market by the fourth quarter.
Investec has also exclusively revealed to Investment Week which members of its newly reconstructed and highly-rated fixed interest team, which includes two AAA-rated fund managers recently recruited from Invesco, will manage which of its off and onshore portfolios.
Michael Markham, newly arrived at Investec Asset Management from Invesco where he was AAA-rated by S&P, is to take over the group's three existing onshore fixed interest unit trusts.
Markham, who joined Investec to work with former colleague and Investec's head of fixed income Paul Griffiths, also AAA-rated at Invesco, will run the European Bond, Sterling Bond and Global High Income unit trusts. Griffiths is the named back-up manager on all three portfolios.
Investec has completed the reconstruction of the team, which now numbers 21 in total, with the addition of AA-rated fund manager Kieron Nutbrown, who joins the group from Schroders this week.
Nutbrown has not been assigned portfolios to manage at the moment but is likely to be given a prominent role at a later stage, given his high profile in the retail channel, according to the group. The reconstruction of the Investec fixed interest team and the overhaul of its process has been masterminded by Griffiths, who joined Investec in July last year.
Jamie MacLeod said the team was one of the strongest in the City and continued the heritage and reputation of Guiness Flight for fixed interest investment, while taking the investment process to a more consistent and rigorous level.
Griffiths himself takes on the role of lead manager on a number of funds in the Investec offshore range and will manage the new onshore international bond fund when it launches.
Griffiths is to asset allocate on the offshore Dollar High Income and Global High Income funds, which invest in a mix of emerging markets, high yield and developed markets debt. He also manages the US Dollar Bond fund, the Guernsey-based Global Bond fund, the International Accumulator Global Bond fund and the Dublin-based Global Bond.
Tim O'Dell, with Investec since 1998, is to continue to run the offshore Sterling Managed Currency and the Guernsey-based Dollar Managed Currency, the Global Managed Currency and the International Managed Currency funds. Griffiths is the back-up manager on each of O'Dell's portfolios.
Rupert Watson, considered by Investec as a key hire when he joined two months ago from Merrill Lynch, is to run the European Bond fund with Geoff Lunt as back-up manager.
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