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Premier inspired by US

Premier Portfolio Managers has taken inspiration from the US with the introduction of its global technology fund.

This Luxemburg-based Sicav marks a departure from the management styles of similar offshore funds in that four fund managers share the responsibility of running the fund. This approach is common in the US but not in the UK and other parts of Europe.

The multi-manager style is a variation of a fund of funds, where one manager picks different funds for an investors portfolio. This fund is split into four parts and each manager is asked to choose between 10 and 12 technology stocks that they think provide the best opportunity for long-term capital growth.

The intention is to spread the risk through diversification of fund managers and stockpicking styles, but technology could still prove too risky for some investors who are wary of volatile sectors. In addition, the fund&#39s performance could be dragged down if one of the managers does not perform as well as the rest.

According to Standard & Poor&#39s, the Premier IIS UK emerging markets and Premier IIS world 100 Sicav funds are top quartile and one fund is bottom quartile 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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