Investec is considering the sale of Kensington, its intermediary mortgage business in the UK, and has appointed Fenchurch Advisory to conduct the procedure.
In its interim statement this morning, the group said the decision had been made after receiving "certain expressions of interest", but "there can be no certainty any sale will take place". Investec Asset Management and Investec Wealth & Investment reported results moderately ahead of the prior year, with higher levels of average funds under management and net inflows of £2bn and £1bn, respectively. However, the latest set of results covering the nine months to 31 December 2013 revealed the asset management arm has suffered from the depreciation of the South African rand versus sterli...
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