Investec chooses Alliance Trust for investments

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Investec chooses Alliance Trust for investments

Tue 31st Oct 2006

Investec, the international specialist investment manager, has passed over the administration duties of its ISA and PEPs invested in the Temple Bar Investment Trust to Alliance Trust, the financial services company.

The management of Investec's customers' investments will be handed over to Alliance Trust on January 3rd 2007.

Those affected by this development will be Investec customers whose ISAs and PEPs contain Temple Bar Investment Trust shares.

Kelly O'Donnell, Alliance Trust head of investor relations, stated: "We are delighted that Investec, after consultation and agreement with the Board of Temple Bar, has chosen Alliance Trust Savings and is proposing that its customers transfer their plans to us.

"We regard this as a tremendous compliment to our customer service and the way we do business, which is to offer fair value and a wide investment choice to all our customers."

Investec has stressed that existing investors are under no obligation to switch to Alliance Trust Savings.

Alliance Trust is the largest conventional investment trust in the UK with around 60,000 shareholders.

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