Swip launches multi-manager product for Harries and Wood
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Scottish Widows Investment Partnership has launched its multi-manager optimal multi-asset fund into the UK retail market.
According to the group, the fund reduces over-reliance on equities as a long-term growth generator. Mark Harries, the head of multi-manager, and Simon Wood will manage the fund and are targeting a return of 6 per cent above Libor.
The new fund is a balanced managed offering. Through it, Harries and Wood will be able to invest in a diversified range of assets including absolute return funds, commodities, equities, private equity and property.
In January 2008 Swip launched two offerings for the duo in the shape of multi-manager diversity and multi-manager select boutiques.
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