Hedge Funds

Investec energy team combines equities and commodities to optimise risk/return balance


Mark Lacey and Jonathan Waghorn, the co-managers of the Investec Global Energy Long/Short Fund, came to specialise in the energy sector via rather different routes.

Mark Lacey and Jonathan Waghorn

Lacey started out as a commodities fund manager at Credit Suisse Asset Management. There he spent six years in the world's major financial centres, while Waghorn began his career as a drilling engineer with Shell International - spending a good part of his three years with the oil major on rigs in the North Sea.

After working as oil and gas analysts