Investec Asset Management, part of UK and South Africa-listed Investec, has replaced two portfolio managers who left its commodity team in April, a spokesperson for the company has confirmed.

Tom Nelson and Charles Whall, who have joined from Guinness Asset Management and Newton Investment Management respectively, will together manage the firm’s two energy funds with total assets under management of $2.2 billion.

The previous managers, Mark Lacey and Jonathan Waghorn, resigned about five weeks ago. They have left the asset management industry.

Nelson was a portfolio manager at Guinness since 2006 and Whall worked for Newton for 10 years, most recently as an energy analysts.

The commodity team at Investec comprises nine people and is headed by Bradley George. Total assets under the team's management are around $7 billion.