Investec falls out of FTSE 100 in re-shuffle

Banking and asset management giant Investec has exited the FTSE 100 as part of the latest re-shuffle of the UK's leading share index.

FTSE Group ("FTSE") said in its latest quarterly review Investec, along with miner Lonmin and Inmarsat - the mobile satellite company - will all be falling into the FTSE 250 later this month.

Replacing them in the FTSE 100 will be international building materials group CRH, steel and mining company Evraz, and precious metals producer Polymetal International.

Investec, which boasts a range of top performing funds including Alasdair Mundy's £2bn Cautious Managed fund, has seen its share price fall around 30% from 506p a year ago, to 358.5p.

This compares with a fall of just 4% in the FTSE 100 from 5,770 points to 5,547.

Investec peer Aberdeen Asset Management is among six groups now on FTSE's list of reserve companies who move up into the FTSE 100 in the event of a takeover.

Alongside Aberdeen, Babcock International, Croda, Wood Group, Pennon, and the London Stock Exchange are also in line for promotion.

The FTSE 100 comprises the country's most highly-capitalised blue chip companies, representing approximately 81% of the UK market.

Meanwhile Hargreaves Lansdown has remained in the FTSE 100 in the latest review, after edging out Lonmin.

The change over will be implemented at the close of business next Friday, with companies trading in their new markets on Monday 19 December.