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Ingenious wants to lower limit

Ingenious Asset Management is looking to lower the min- imum investment on its multi-manager UK equity fund in a bid to attract more IFA business.

The company set the minimum investment at £50, 000 when it launched the fund in 2003 as it could not initially cope with high volumes of business but, after reporting growth of 28.4 per cent in 2005 and 50.2 per cent since launch, Ingenious thinks the fund that it calls “a greatest hits album of fund management” will appeal to Isa clients.

Standard & Poor’s ranks the fund 32nd out of 134 funds on a bid-to-bid basis with gross income reinvested over two years to January 20.

The fund takes a manager of managers’ approach to a portfolio of 30 UK stocks, with Investec’s Daniel Hanbury, Merrill Lynch’s Luke Chappell and Societe Generale’s John Richards each filling the portfolio with their 10 best stock ideas.

Ingenious chose these managers because it says they have complementary investment styles which means the stocks they select are less likely to overlap.

There are no restrictions on the managers in terms of sector and although some occasional overlaps are allowed, they are kept to a minimum to ensure diversity.

Ingenious managing director Guy Bowles says: “I think it is better to have three good managers with 10 stocks than one manager with 30 stocks. Nobody comes up with 50 or 100 great stock ideas but it is possible to pick 10.”


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