Investec AM caught up in boiler room fraud

Investec Asset Management has warned investors it is being targeted by fraudsters in a boiler room scam.

Fraudsters have been offering bogus products and sending letters requesting portfolio management charges, as well as invitations to an annual general meeting event supposedly held at Investec's offices today. Investec said in a statement: "Please note this is not a legitimate Investec Asset Management meeting. We would not give advice or cold call members of the public, and also would not act as broker or provide post-trade and information services." The bogus funds being offered are: Investec Global Commodities Hedge, Investec Forex Trading Hedge, Investec Global Emerging Markets Hed...