Tim Guinness, a specialist energy fund manager, will take on his former employer Investec Asset Management by launching a global energy fund for UK investors.

Last week, Investec hired two analysts from investment bank Goldman Sachs to manage its onshore and offshore global energy funds, which it is due to take in-house from Tim Guinness's firm Guinness Asset Management in the next three months. The agreement leaves Guinness with $700m of assets, mostly in its own Guinness Atkinson range of US mutual funds.