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Since inception in 1991, Investec Asset Management has been clear that long-term investment performance and client experience are the two key focus areas of the firm. Underlying this is a relentless commitment to recruiting and retaining the best talent and building high quality, differentiated investment processes. To do this consistently requires a stable and experienced staff complement and a strong and well-accepted culture.

We therefore plan and communicate changes in our leadership well in advance to our clients, staff and other stakeholders.

On 6th February 2018, Investec plc and Investec Limited (the “Investec Group”), the controlling shareholder of Investec Asset Management, announced a succession plan following the retirement of the long-serving Investec Group CEO and Managing Director, Stephen Koseff and Bernard Kantor respectively, on 30th September 2018.

Our founder and CEO, Hendrik du Toit, will become Joint CEO of the Investec Group with Fani Titi (current Chairman of Investec Group), on 1st October 2018. By virtue of his new role, Hendrik will remain closely involved in Investec Asset Management including an ongoing engagement with clients, participation in strategic decision-making and membership on the board. Our COO and CFO, Kim McFarland, will similarly be appointed Finance Director of Investec Group on 1st April 2019, while remaining on various boards of Investec Asset Management. Until then, Kim will remain COO and CFO of Investec Asset Management.

John Green, currently Global Head of Client Group, and Mimi Ferrini, currently Co-CIO, have been appointed to take over from Hendrik on 1st October 2018 when they become Joint CEOs of Investec Asset Management. John and Mimi have worked together as part of our leadership team for the last 17 years and will retain their reporting line to Hendrik after the October transition. John McNab will remain Co-CIO with Mimi.

These changes, which are subject to regulatory approval, will not affect the composition of the portfolio management or client teams. We strongly believe these changes are good for Investec Asset Management and its clients.

Thank you very much for your ongoing support.

The Board of Investec Asset Management

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