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Guinness targets 25% returns with oil & gas launch

Guinness targets 25% returns with oil & gas launch

Guinness Asset Management has hired former M&G analysts Sachin Oza and Stephen Williams as it expands it looks to launch an oil and gas exploration fund.

The pair will join the boutique’s three-strong team of Tim Guinness, Will Riley and Jonathan Waghorn.

Mr Oza joins after 13 years with M&G, where he was an equity research analyst focused on oil firms. Mr Williams has worked alongside him for the past six years.

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The new fund will be managed by Mr Oza and Mr Williams and will invest in quoted stocks in emerging market exploration basins, with a target return of 20-25 per cent per annum over five years.

Guinness is yet to decide on the fund’s structure, but said it is considering a Dublin-based alternative investment fund vehicle.

Mr Oza said he left M&G in order to develop a fund investing in smaller, regional stocks.

He said: “I am really pleased that Guinness Asset Management are backing Stephen and me to make it happen. We would expect the portfolio to have limited short-term correlation to the oil price and the broader equities market due to the event-driven nature of the investments.”