Investec moves to a watchful position in Asia

Investec Asset Management Asia is moving to a cautious position on capital guaranteed funds in Hong Kong and predicting a pick up in the hedge fund market.

The company closed the Investec High Income Capital Guaranteed Fund 2 to new money in May against a backdrop of what its management team believes is a saturated market with cautious investor sentiment.

Stewart Aldcroft, managing director, development, Investec Asset management Asia, said: 'Last year, guaranteed products raised about $4bn in Hon