Investec

Company history

Investec was founded in Johannesburg in 1974 as a leasing company, obtained a banking licence in 1980 and listed on the JSE in 1986. It entered the UK in 1992, bought merchant bank Guinness Mahon and its broker Henderson Crosthwaite in 1998, and adopted a dual-listed structure with London-listed Investec plc in 2002. It acquired broker Evolution Group in 2011, demerged its asset manager as Ninety One in 2020 and combined its UK wealth business with Rathbones in 2023.

1. 1974Founded in Johannesburg as a leasing company
2. 1986Listed on the Johannesburg Stock Exchange
3. 1998Acquired Guinness Mahon and broker Henderson Crosthwaite
4. 2002Dual-listed structure created with London-listed Investec plc
5. 2011Acquired broker Evolution Group
6. 2023Combined UK wealth business with Rathbones

Research

The London team covers about 500 UK stocks across 15 sectors for more than 1,000 UK, European and North American institutional investors as of 2026. Investec was ranked #1 for research in the 2025 Extel UK Small & Mid-Cap survey. Ratings are Buy, Hold or Sell on 12-month expected total return, with Buy above 10% and Sell below 0% for research produced by Investec Bank plc, and optional Add and Reduce tags within Hold.

Coverage12M

Stocks

4

Ratings

4

Price targets

0

Upgrades

1

Downgrades

3

Initiations

0

Reiterations

0

Activity24M

Most covered24M

Stock	Rating	Target	Actions	Last action
CCCCHGY	Hold	—	1	Sep 3
HIGThe Hartford Financial Services Group, Inc.	Buy	—	1	Sep 16
NXNXGPF	Hold	—	1	Aug 6
VLVLXGF	Buy	—	1	Jun 30

Recent actions

Stock	Rating action	Rating	Date
The Hartford Financial Services Group, Inc.HIG	Downgrade	Buy	Sep 16
CCCCHGY	Downgrade	Hold	Sep 3
NXNXGPF	Downgrade	Buy →Hold	Aug 6
VLVLXGF	Upgrade	Hold →Buy	Jun 30
IHInterContinental Hotels Group PLCIHG	Upgrade	Hold →Buy	Nov 25, 2020
Barclays PLCBCS	Upgrade	Hold →Buy	Jul 10, 2020
INInfosys LimitedINFY	Downgrade	Buy →Hold	Apr 15, 2019
RIRio Tinto GroupRIO	Downgrade	Buy →Hold	Feb 8, 2019
AstraZeneca PLCAZN	Downgrade	Buy →Hold	Nov 19, 2018
BUAnheuser-Busch InBev SA/NVBUD	Downgrade	Buy →Hold	Nov 17, 2016
BTBritish American Tobacco p.l.c.BTI	Upgrade	Hold →Buy	Sep 8, 2016
BHBHP Group LimitedBHP	Downgrade	Hold →Sell	Jan 20, 2016

References

1. Equity research | Investment banking | Investecinvestec.com
2. Investec Tops 2026 Extel UK SMID Brokers Rankings (RNS)tradingview.com
3. Investec - Wikipediaen.wikipedia.org
4. Investec Equities research disclosures (November 2025)researchpdf.investec.co.uk
5. Investec Bank plc Half-year Financial Report (November 2025)investegate.co.uk