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(From Lloyds List)
Byline: James Brewer
DEMAND for oil company shares has resulted in the launch of what is said to be the first UK domiciled equity fund investing in energy stocks.
Investec Asset Management has established an onshore (in the financial sense of the word) Global Energy Fund, as a mirror of its Guernsey-domiciled $230m Investec GSF Global Energy Fund, which is AAA rated by Forsyth Partners and AA rated by Standard ' Poor's Fund Research.
Run by the same management team headed by Tim Guinness, the fund will appeal to private investors for their financial planning.
It will target capital growth mainly through investment in companies throughout the world involved in exploration, production or distribution of oil, gas and other energy sources.
Investec manages assets of more than GBP22bn ($41.6bn) on behalf of pension funds, insurance companies, charities, governments, corporations and individual investors. The ...