ASSET MANAGEMENT
Investec unit in bid to shed ‘out of Africa’ image
The unit will compete with large global asset managers such as Blackrock and Vanguard
With only $141bn of assets under management, Investec Asset Management (IAM) says it will use its specialist active management capabilities to gain more global inflows. The unit, which Investec announced in September would be split from the group and listed separately, will compete with large global asset managers such as Blackrock and Vanguard, who respectively manage $6.3-trillion and $5.1-trillion of assets on behalf of their clients. Investec is viewed as a mid-sized manager that is trying to avoid being stereotyped as only an emerging-market specialist since it is domiciled in Africa. "Clearly, we have a lot of expertise in emerging markets, but we also do a lot of other things. But looking at our asset growth outside SA, I think we are overcoming that," Richard Garland, MD of IAM’s US operations, said in Johannesburg.
Even local financial advisers still see Investec as a SA company, which makes it difficult to convince them to allocate their investments to the company’s ...
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