MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Monday, February 10, 2003 Investec Funds Return Home The cleanup after the dotcom boom and bust continues. The brand name fund of the boom -- Wired Index -- is to fall under new management and a new strategy. Guinness Atkinson Asset Management is taking over as subadvisor to that fund and three others that currently are advised by Investec Funds. The move is part of a shift in focus by Investec to concentrate its North American efforts on the distribution of the firm’s 44 offshore funds. Jim Atkinson, CEO of Guinness Atkinson, told the MFWire.com that the SEC filing and shareholder approval process may wind down in May, upon which time his firm will officially take over management of the funds. Guinness Atkinson Asset Management was formed this past November. The four funds being moved to Guiness are the Investec Asia Focus Fund, China & Hong Kong Fund, Mainland China Fund, and Wired Index Fund. The Mainland China Fund, is to be merged into the China & Hong Kong Fund. The Wired Index Fund will also shift from following Wired Magazine's stock index to an active strategy and take a new name (Global Innovators Fund). The updated fund will also include non-tech, globally-oriented companies that display intelligent uses of technology. Tim Guinness and Edmund Harriss are to serve as portfolio, investment managers of the funds, which ultimately will number three. Investec's decision to move the funds to Guinness Atkinson essentially returns the funds to their roots. Guinness and Atkinson were both key executives at Guinness Flight funds, the predecessor of Investec. Guinness Flight family of funds launched its fund family in 1994 and changed its name to Investec in 1998. Printed from: MFWire.com/story.asp?s=4529 Copyright 2003, InvestmentWires, Inc. All Rights Reserved |