Investec Asset Management global energy specialist Charles Whall has brought the curtain down on a 35-year career, Wealth Manager can reveal.
Whall joined Investec in May 2012 after a 12-year-spell at Newton, where he led oil and gas research. He was hired alongside Guinness Asset Management's Tom Nelson.
The pair were recruited to fill the void left by Investec's previous commodities team of Jonathan Waghorn and Mark Lacey, who quit the firm for commodity trading business Mercuria Global Energy Solutions.
A statement from Investec read: 'Charles has played a key role in the management and evolution of our Global Energy strategies since 2012, and his in-depth knowledge of the oil industry has enabled us to navigate a period of structural change within the sector. We wish Charles the very best for his retirement with his wife and three daughters.'
Prior to Newton, Whall held a wide variety of roles in the oil and gas industry, which included spells at Britoil, Arco and BP.
At Investec he managed the £93 million Global Energy and an offshore version of the portfolio alongside Nelson.
The onshore fund had a stunning 2016, returning 49% on the back of the huge positive shift towards commodities. This return beat the peer group average of 41% last year.
Over the longer term the fund has not quite fared so well against the peer group, returning -8.4% over the last three years versus a sector average of 0.8%.
Nelson will continue to run the energy fund alongside Graeme Baker, who has been promoted from analyst to assistant portfolio manager.
'Graeme has been part of the Global Energy team since 2010, and has been a key contributor to all aspects of the portfolio management process in recent years,' Investec said.