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Premier adds another strand to Sicav

Premier Portfolio Managers is adding another strand to its Sicav range with the global select fund.

This multi-manager fund aims to provide long-term growth and will invest in US large and small caps, global value stocks and growth stocks in the Far East and Europe.

There will be five fund managers each handling 20 per cent of the portfolio. Each manager will concentrate on picking between 10 and 12 of the best stocks.

The benefit of this approach is that the portfolio can go with a star fund manager if they move to another management group. The advantage of having such a good manager may be undermined because they can never manage more than 20 per cent of the fund. But if a manager&#39s performance slips and a replacement steps in, only 20 per cent of the portfolio will be affected by this change.

The global select fund is a good attempt at providing diversity for investors, although it is likely to face competition from fund supermarkets.

According to Standard & Poor&#39s the Premier IIS world 100 fund is ranked 81 out of 280 funds based on £1,000 invested on a bid to bid basis with gross income reinvested over three years to November 27, 2000.


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