View more on these topics

New team for Premier multi-manager fund

Premier is assembling a team of four fund managers, including Rathbones star fund manager Hugh Priestly, for its third multi-manager fund.

Priestly will be joined by managers from Thornhill, BWD Rensburg and Investec for the Premier UK blue-chip fund, which will be for investors in the UK and on the Continent.

The aim of the fund is to provide long-term capital growth by investing across a wide-ranging portfolio of UK stocks.

Each manager will look after 25 per cent of the fund and invest in 10 to 12 stocks. Premier says this frees the managers from holding less favoured stocks simply to make up the numbers.

Premier says a multimanager approach reduces risk as investors are not banking on the star performance of one fund manager. If Premier replaces a manager it thinks is faring badly, only a quarter of the fund will be affected until a replacement is found.

Minimum investment is £2,000 and annual management charge is 1.5 per cent. Initial charge is 5 per cent. Commission is 4 per cent.

Managing director Jonathan Fry says: “We are bringing together some of the best UK fund specialists with different investment styles who will be aiming to outperform the FTSE All Share index and give investors one good fund to cover their UK holdings.”

Recommended

Small firms set to boost sales of stakeholder

Small employers with fewer than five staff could give stakeholder a boost by offering their employees a pension even though they are exempt from doing so, claims Legal & General. According to L&G&#39s research, just 54 per cent of employers with between one and four staff were aware of stakeholder but it says, of these, […]

SEI wins MAN mandate

SEI Investments will manage the pension fund of MAN B&W Diesel, an account potentially worth £50m.SEI will have overall discretion for the fund, carrying out asset allocation within guidelines set by Deloitte and Touche, for the MAN B&W Diesel defined benefit pension scheme.SEI institutional business development head, UK Patrick Disney says: “We are delighted to […]

Tender deal to boost IFAs in benefit battle

New online services firm Pensions Treasury is aiming to help IFAs attack the markets which are generally dominated by employee benefit consultants. Former Hargreaves Lansdown head of e-commerce Mark Rowlands is managing director of the firm which matches big employers wanting to ensure they are stakeholder-compliant with IFAs who advise on stakeholder and group personal […]

OUTSIDE EDGE Tim Wilsdon

Is IFA commission under threat? Commission is under regulatory scrutiny with the second stage of polarisation and Paul Myners&#39 suggested retail investment review. There are mounting pressures on commission-based advice. What is behind these changes and what strategies should advisers be using? The commission-based advice market is under pressure from three main directions. The internet […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment