Raiffeisen Capital Management is to move the global equity portions of a number of its funds from Capital International to Investec from this summer.
RCM is to concentrate on its areas of expertise – continental and emerging Europe – for its existing range of equity, bond and money market funds – which are all domiciled in Austria but are registered for sale in the UK among other markets.
Investec is to take on the fund management of the Global Equities, US Equities and Pacific Equities portfolios as well as the equity portion of the Global Mix fund and the corresponding institutional funds. It replaces Capital International, which RCM has worked with since 1995.
Simon Mansell, RCM’s London-based sales manager, said: “Reasons for the decision included the fact that Investec is an active, fundamentals-orientated manager with a well-structured, transparent investment process.
“The decision 10 years ago to work with Capital International was clearly an excellent one, but now it is time move on and explore new opportunities.”
The outsourcing to Investec is the second stage of RCM’s restructuring of its equity management operations, which saw it in-source management of the domestic market in Europe.
An ambitious objective
'Something completely new'
'Illusion of control'
Reasons to be cheerful
Total investment reaches £9m