European banking group, BSI SA has appointed Investec Asset Management to manage its Global Equitie...
European banking group, BSI SA has appointed Investec Asset Management to manage its Global Equities mandate.
Investec will act as investment adviser to the Global Equities fund, which is part of BSI's Luxembourg-based Multinvest Sicav, which is aimed at its private client and institutional client base primarily in Switzerland and Italy.
BSI-Multinvest Sicav consists of 16 sub-funds with E1.5bn (£1.02bn) in assets under management.
This is the first time the BSI Multinvest Umbrella has awarded an outsourced mandate.
The fund will be a modelled on the top performing Investec Global Strategic Value fund, which is managed by Mark Breedon. This fund has returned 135.6% in the three years to 31 January 2006.
Christian Ferry, senior executive vice president and head of BSI Financial Services, said: "We chose Investec to act as the investment adviser to the BSI-Multinvest-Global Equities fund because its Global Strategic Value fund has produced exceptional investment performance over the long-term through a variety of market conditions.
"We were also very impressed by the four factor investment process pioneered by Investec, which gives us confidence they will be able to repeat this investment performance for our clients over the years ahead."
Mike Ryder Richardson, international marketing director at Investec Asset Management, said: "We are currently experiencing considerable growth in Europe and are working with a number of distribution partners across the Continent."
Investec AM appointed to manage a Global Equities mandate by European banking group, BSI SA
SICAV consists of 16 sub funds with assets of E1.5bn (£1.02bn)
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