Acquisitions, product consolidation, a shift to outsourcing--it's all part of the plan for Investec's U.S. investment management unit, said its managing director, Royce Brennan.

Brennan was brought in from Hong Kong last October to replace Jim Atkinson, who left the firm for MaxFunds, an online rater of small and new funds. Asked to to revamp the firm's fund business, Brennan was handed seven no-load funds and soon realized that the direct sales model wouldn't cut the mustard.

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