Premier Portfolio Managers has introduced the Premier international investments UK blue chip fund, the company's third multi-manager fund.
The fund is a Luxemburg-based SICAV and is aimed at investors who want to balance out any risk by investing in a product that blends different investment approaches with a wide range of investment areas. It adds to the company's other two multi-manager funds, which invest in technology and global companies respectively.
The UK blue chip fund will be divided into quarters, FTSE 100, mid-caps stocks, mid-cap & smaller cap stocks and pan-market, with each portion being managed by a different manager covering different sectors.
The FTSE 100 stocks portion will be managed by Russell Wallis, who has managed the Thornhill capital trust since 1989. Stuart Sharpe and Leigh Himsworth from BWD will manage the mid-caps stocks section, which will invest in the FTSE 250 index.
The mid-caps and smaller caps portion will be managed by Hugh Priestly, who has managed the Rathbone income & growth fund since 1993 as well as the Rathbone smaller companies fund. The pan-market sector will invest in a wide range of UK stocks and will be managed by Michael Rimmer, who has been managing the Investec UK opportunities fund since January 2000. He previously spent 14 years as an UK equity analyst at Schroders.
Each manager will pick between ten and 12 stocks in each sector. The fund will be reviewed quarterly, so that in the event that one sector underperforms compared to the other three, Premier will replace the manager with someone else.
According to Standard & Poor's the Premier UK smaller companies fund is ranked 3 out of 75 funds, based on £1,000 invested on a bid-to-bid basis with net income reinvested over one year to March 26, 2001.