Investec Asset Management has started the year well by beating the estimated median for mixed pooled funds by 1.5 percentage points in the first quarter.

Investec produced -2.5% in Q1. Its figure for the year to March of -18.2% is one point over the median, only beaten by the small fund managed by Neptune Investments, which made -12.4% in a poll of 20 managers carried out by Financial News.