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Maple syrup to sweeten Asian portfolio

Skandia Investment Management has awarded a 37m Asian equity mandate to Maple Brown Abbott.

The portfolio is held across a number of SIML’s products, including its Far East equity blend, as well as the aggressive, balanced and cautious funds.

Maple Brown Abbott is an Australian group specialising in Asian equities and is known for having a value bias. Rather than replace any of the six current managers on the mandate, SIML has reduced its weightings in funds it has already outsourced to First State and Aberdeen to accommodate the new addition.

The Maple Brown Abbott holding is now SIML’s joint biggest weighting of 19 per cent alongside First State Pacific and Aberdeen Asia Pacific.

Skandia Asset Management chief executive Jamie MacLeod says the group’s approach is complementary to the existing Asian equity managers used, in terms of the dividend focus of Lincoln, value focus of Axa Rosenberg and quality-based offerings from Aberdeen and First State.

The Far East equity mandate is one of seven funds within SIML’s asset allocator range. It ranks 67th out of 70 in Asia Pacific ex Japan sector over 12 months, according to Standard & Poor’s.


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