Investec has launched a diversified growth fund, managed by Philip Saunders, as part of its creation of a new range of risk-rated funds ahead of the RDR.
The Investec managed solutions range is made up of four funds. Alongside the newly launched Investec diversified growth fund sits Alastair Mundy’s £2.2 billion cautious managed fund, and the £405m multi-asset protector and £40m managed growth funds, both run by Saunders and Max King.
David Aird, the managing director of the UK client group at Investec, says the funds are all designed to deliver outcomes, rather than beat specific benchmarks.
“The whole industry is predicated around beating benchmarks, but do they mean anything?” says Aird. “We would say no, investors on the street understand outcomes and there are five main ones they want.