Mundy steps down from Investec Managed Distribution fund
Investec’s Alastair Mundy has stepped down from his role as manager of the Investec Managed Distribution fund, handing the portfolio to John Stopford and Max King.
Stopford, co-head of fixed-income at Investec, and King, part of the group’s global asset allocation team, have taken over the running of the £72m fund to allow Mundy to focus on his other responsibilities.
Mundy (pictured) has run Managed Distribution since 2004 but will now concentrate on the £2.1bn he manages across the group’s Cautious Managed, UK & Global Special Situations funds.
Investec said in a statement: “Given the more income-focused positioning of this fund, the fixed income team co-headed by John Stopford will bring proven depth of expertise across both developed and EM debt where we have demonstrated an industry-leading capability.”
“This expertise will be combined with the multi-asset team’s asset allocation capabilities.”
The fund has returned 11.7% over the five years to 29 June versus an average return of 8% for the IMA Mixed Investment 20-60% Shares sector, according to Morningstar.
This article was first published on Investment Week