Skandia Investment Management launches its UK best ideas fund next week and has already received requests from advisers to devise similar funds in other areas of the market.The new fund is a response to IFA demand for a UK version of the global best ideas fund launched in June. SIM says this fund has grown to almost £150m and is up by over 10 per cent in its first three months. It has no immediate plans to add to the range but says it may roll out more funds in future if IFA demand is sufficient. Under Skandia’s best ideas concept, 10 fund managers from different companies select their 10 best stock ideas which are combined within a single fund. The UK best ideas fund will include stocks selected by managers such as Old Mutual’s Ashton Bradbury, Schroders’ Richard Buxton and Jupiter’s Anthony Nutt. Managers can hold up to 25 per cent in a single stock and must hold at least 5 per cent in all stocks to ensure that all holdings contribute to overall returns. Skandia believes the main attraction of its latest twist on the multi-manager market is the quality of managers it has on board. It says they were selected not only on the basis of their skills but also the way they can be blended together to make a single portfolio work. Despite the UK focus, there will be differences in style and market cap focus, so it is unlikely that the managers will select the same stocks although they will be free to do so. Fund manager Ryan Hughes says: “We are asking the managers to run their stocks independently. they will not be formally getting together. They are all independent thinkers who have worked in their own way for so long that it is unlikely they would hold the same stock. “We are being asked to build more funds. We have no immediate plans but if there is sufficient demand we will see what we can do.”
The Chartered Insurance Institute has unveiled its Advanced Diploma in Financial Planning which forms the final part of its new financial planning exam framework.The CII says the diploma is designed to develop specialist financial planning capabilities and provide the gateway to Chartered Financial Planner status.It is made up of five units – personal tax and […]
In last week’s column, Mark Harris concluded that the “merger” of Nationwide and Portman would be positive for consumers in the short term but negative in the long term. It is worth returning to the subject as I think it will also be negative for consumers in the short term.
George Osborne has rejected calls to cut taxes from the right of the party, claiming that there is “no such thing as a tax-cutting Shadow Chancellor”. Speaking at a Cicero Consulting and Policy Exchange fringe event on Sunday, Osborne said it would not make any sense to propose tax cuts three years before the party […]
You report some of my comments from the Labour Party Conference following Sir Callum McCarthy’s recent speech but the headline suggesting that I favour churn is misleading. If customers are advised to shift between long-term investment products of equal suitability purely to gain commission, then there is clearly no gain to individual customers or to […]
Dr. Andrew Lo, Founder and Chief Investment Strategist at AlphaSimplex, discusses why it is difficult to keep a long-term perspective in short-term markets.
- Top trends
News and expert analysis straight to your inboxSign up
Latest from Money Marketing
Providers are reviewing their marketing packages to advisers at conferences and on websites amid concerns they will fall foul of new inducement rules under Mifid II. Mifid II, which came into force on 3 January, brought in more stringent rules around “non-monetary benefits” from providers to advisers. The rules have been translated into the FCA conduct of […]
A misleading headline rate of unemployment means opportunities are being overlooked by investors
The FSCS is budgeting an extra £3.5m to cover the cost of running the scheme this year. The management expenses levy, which is used to cover the cost of administering the scheme separately from any compensation payments made, proposed for 2018/19 by the FSCS today is £77.7 million, up 5 per cent on the previous […]