SOUTH African investment bank Investec says it has boosted its stake in financial services business Fedsure to 19% as part of its bid to buy the company’s insurance unit. Investec said last week it had agreed with Fedsure to buy the smaller company’s unit in a deal worth $735m, which would create South Africa’s second-largest fund manager after London-listed Old Mutual. Investec has held a 14.5% stake in Fedsure since 1991, while a life fund managed by Fedsure has a 20% stake in Investec Holdings. – Reuters