Royal & SunAlliance International Financial Services (R&SAIFS) second collaboration with Collins Stewart Asset Management is the R&SAIFS Collins Stewart growth managed fund.
An offshore life assurance fund of funds, growth managed is aimed at the experienced investor looking for growth over the medium term and who is willing to put up with a high level of risk.
With the fund management dealt with by Collins Stewart in Guernsey and the administration handled by R&SAIFS in the Isle of Man, the fund will pick 14 from the 80 funds in the R&SAIFS mirror fund range. Some of the external fund managers included in the range are Investec, Schroder, Momentum, Thames River Capital, Vanguard and Invesco.
The funds chosen will cover a wide range of sectors and investment areas, with the initial choice including cash, UK equities, US equities, Far Eastern and Japanese equities, property and market neutral hedge funds. Growth managed will sit in Standard & Poors International asset allocation global dynamic sector, which already contains 140 funds and it does not stand out as offering anything innovative.
Senior investment manager Mark Piper, who joined Collins Stewart in January 1998, will manage the fund. He is currently a fund adviser for the Collins Stewart Hirzel House sterling international balanced fund. Before joining Collins Stewart he worked for Old Mutual from 1988, where he managed the elite offshore fund umbrella.
According to Standard & Poors of the 99 R&SAIFS funds available, 19 are first quartile, 21 are second quartile, 23 are third quartile and 26 are fourth quartile, based on £1,000 invested on a bid-to-bid basis with net income reinvested over one year to October 22, 2001.