Europe expansion on Investec's mind

In a 2-pronged expansion strategy, Investec Guinness Flight will target UK pension funds and continental European retail money. Investec Guinness Flight (whose full name has not been decided yet) is the product of the Investec Group's acquisition of London-based Guinness Flight Hambros Asset Management Co., which was announced in May and concluded this month. The combined firm has $22 billion in assets under management and 75 investment professionals. But Investec's shopping spree is unlikely to stop there. The deal will rank Investec Guinness Flight among the top 150 largest non-US international money managers. Hendrik du Toit, the firm's newly named CEO, said it is Investec's goal to rank among the top 50.