Guinness poaches M&G analysts for new oil & gas fund

Will target EM exploration basins

Guinness Asset Management has hired two senior energy analysts from M&G Investments as it prepares to launch an oil & gas exploration fund.

Sachin Oza and Stephen Williams have joined Tim Guinness (pictured), Will Riley and Jonathan Waghorn on the company's energy team ahead of the launch, which is set to be a closed-ended fund consisting of 30 positions. It will be a hybrid of private equity and listed investments targeting quoted companies in emerging market exploration basins using the team's ‘constructive activist' approach.  They said the fund will take advantage of cyclical lows in oil prices caused by US fracking, which has led the valuations of companies in emerging basins to become particularly low. It is aime...