Investec Asset Management bolsters Africa research team

Investec Asset Management has bolstered its industry-leading Africa team with the appointment of Julien Veron as research analyst, the group announced today. Veron joins from Credit Suisse, where he spent ten years as a rated sell-side analyst covering a range of sectors from healthcare to food. .

"We are thrilled to welcome Julien to our team. He adds further depth and expertise to what has become an important growth area in our business," said Hendrik du Toit, CEO of Investec Asset Management. "It is our ability to do on-the-ground due diligence across the continent that has given Investec Asset Management a competitive advantage in Africa. Julien joins a team of dedicated analysts that researches and analyses the macro environment and prospective investment opportunities across continent. Their research includes regular company visits to meet with the management and visit the operations of companies that are considered for the portfolios."

Investec Asset Management has actively advocated and pioneered investment into Africa for more than three years. Assets deployed on behalf of clients in African markets, excluding South Africa, now exceed US$ 1.5 bn (R10 bn).

The Investec Africa Fund, which invests predominantly in African equity markets, has returned 52.8% in US Dollars over the twelve months to the end of March, comfortably outperforming the MSCI World and MSCI Emerging Markets indices, which returned 16% and 21.03% respectively.

Prior to joining Credit Suisse, Veron spent four years as a credit analyst at Nedbank. He graduated with an MBA from the University of Bristol (UK) and qualified as a CFA in 1998. He secured a first degree in English Literature & Civilisation from Nancy (France).

Commenting on his new role, Veron said: "Having spent the last 15 years of my career in an Anglo-Saxon business environment, I always knew that at some stage I would wish to reconnect with my francophone roots. I am honoured to join a team that brings best-in-class capabilities to their research. Their "can do" culture really appeals to me. I look forward to sharing my skills with the Africa Team, but also see tremendous scope in honing these within this exciting investment environment. Exploring the less-trodden paths of the African continent will undoubtedly prove to be not only challenging but also very rewarding."