Thornburg-managed portfolio beats sector average
Five months ago, Investec launched an American fund with a twist: the portfolio was to be outsourced to a US-based investment group, Thornburg. At launch, Investec was quick to stress the strong long-term performance track record of Thornburg when it came to investing in large-cap US equities. In particular, much was made of the $1.6bn Thornburg Value mutual fund's ability in the previous seven years to produce compound annual returns of some 7% above that of the S&P500. In a bid to fill a gap in its UK retail range, Investec has searched globally to find a US equity team to manage an A...
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