Investec to merge European fund into Global Franchise

Investec is to merge away its European fund due to its small size.

Investec is seeking shareholder approval to merge the £26m European fund, run by Ken Hsia (pictured), into its Global Franchise offering on 4 January. "The IMA Europe (ex UK) sector has declined in popularity and size over recent years – the sector’s funds under management have reduced from £38 billion to £26 billion in the last five years - partly reflecting the poor economic background of the region, the on-going events in the eurozone and the more attractive investment options that can be found elsewhere," Investec said in a statement. "This has also been reflected in the size of t...