With an eye on cutting costs at the small fund family, Investec has recently made adjustments to its outsourcing, allowing the firm to cut seven of its positions in Pasadena, Calif. Besides switching teleservicing from Providence, R.I.-based BFDS to Firstar, Brennan said the firm has also started using the marketing services of Merrill Corp. through Firstar, rather than contracting directly with the firm.

"We reduced our cost base significantly, which indicates how expensive the structure was that I inherited," said Brennan.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.