Investec AM to debut macro bond in 2003

Investec Asset Management is launching its first single strategy hedge fund on 2 January 2003. The Invar Macro Bond Fund is aiming for 15% returns after fees, with a volatility of 10%, and will be managed by Paul Griffiths and Kieron Nutbrown, who run Investec's long-only global bond fund and bond mandates. The fund will be closely linked with Investec's existing long-only fixed income mandates, according to David Aird, joint managing director at Investec Asset Management. 'We will not be t