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.”