Investec Asset Management, part of UK and South Africa-listed Investec, has appointed Tom Nelson and Charles Whall as joint co- managers of its global energy portfolios.

Nelson and Whall joined Investec in September last year as energy investment specialists within the commodities and resources team, supporting Bradley George who heads up the team. As reported by this publication in June last year (view here), Nelson and Whall replaced Mark Lacey and Jonathan Waghorn, two portfolio managers who left the firm’s commodities team in April 2012.

“We continue to see a tightening oil market as global demand continues to grow; supply disappoints and therefore we expect stronger long-term crude oil prices. We believe that many oil and gas companies are significantly undervalued relative to current and longer-term energy prices and are excited about the total shareholder return prospects for energy companies into 2013,” said George.

Nelson joins Investec from Guinness Asset management, where he had worked since 2005, most recently as co-portfolio manager of the Guinness Global Energy Fund.

Whall was latterly at Newton Asset Management, where he led its oil and gas sector coverage.

In other recent developments across the wealth and investment arm of the firm, earlier this week Investec appointed Mike Archer as an investment director. Archer will be responsible for developing the wealth and investment management business’ presence in Dorset and the surrounding area.