Investec Global Energy duo departing
Former Goldman Sachs energy duo leaving Investec Asset Management.
Investec Asset Management’s €1.1bn (£890m) Luxembourg-domiciled Global Energy fund and the UK-domiciled $384.5m (£237.4m) Global Energy fund managers Mark Lacey and Jonathan Waghorn are leaving the firm on July 1, Investment Adviser can reveal.
The duo joined Investec in February 2008 from Goldman Sachs as portfolio managers and energy specialists in the global commodities and resources team.
In addition to their flagship Luxembourg-domiciled Global Energy fund, they also manage the group’s Luxembourg-domiciled $57.1m GSF Enhanced Global Energy fund.
The UK-based fund has delivered 24.4 per cent over five years, according to Morningstar.
The group said both managers will work closely with the company to manage the transition to its head of commodities and resources team Bradley George, who will take over the three vehicles.
“The investment philosophy and disciplined investment process established for selecting energy investments will remain unchanged,” the company said.
“Mark and Jonathan will take up their next role at a private physical commodities trading house.”
The Investec commodities and resources team manages more than $6bn.