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Global duo from Premier

Premier Portfolio Managers has added two new multi-manager funds to its Luxem burg-based Sicav.

The PII global technology fund will be run by four mana gers, including Aberdeen Asset Management technology fund manager John Pullar-Strecker.

The other three managers are from Laing & Cruikshank, MacKenzie Financial Cor por ation and MacKenzie Invest ment Managers. Each will man age 25 per cent of the fund.

The PII global select fund will be split between five managers, including Premier&#39s Richard Muckart who will specialise in Far East stocks.

Two of the managers will be from MIMI, the fourth from Cundill Investment Res earch and the fifth is yet to be named.

The Premier multi-mana ger approach encourages each manager to choose a portfolio of between 10 and 12 stocks. The global funds will invest around 40 per cent in the US.

The initial charge for both funds is 5 per cent, with an annual management fee of 1.5 per cent. Initial commission is 4 per cent with 0.5 per cent trail. Minimum investment is $2,500 (£1,725).

Managing director Jona than Fry says: “Both multi-manager funds will offer long-term growth opportunities and bring together a selection of the best fund managers in the world.

“Investors will benefit from a combination of different styles and, as each fund manager will be managing fewer stocks, not only should they have more chance of picking winners but there will be more diversification within the fund and the overall vol atility will be reduced.

“If we decide a fund manager is losing his touch or his style is falling out of favour, it will only affect a maximum of 20 or 25 per cent of the fund until we find a suitable rep lace ment and the remaining portfolio will be unaffected by the change.”


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