Outsourcing management pays off

The story of Investec in the UK begins with Guinness Flight, which started life as the investment department of the Guinness Mahon investment bank. It became a separate entity in 1990 and set up a unit trust business. In 1997, a merger with Hambros Fund Management substantially increased assets under management and investment trust sales. South African firm Investec Asset Management, with a total in £16bn under management, bought Guinness Flight about two years ago and it was at this point the Investec Asset Management name first appeared on the IFA radar screen. The group recru...