Type: Multi-manager Oeic
Aim: Growth by investing in global equities through a portfolio of regional and country-specific segregated mandates
Minimum investment: Lump sum £1,000, monthly £50
Investment split: 100% in global equities
Isa link: Yes
Charges: Initial 5%, annual 1.5%
Commission: Initial 3.5%, renewal 0.5%
Tel: 020 7220 3531
Skandia Investment Management’s global dynamic equity fund is a multi-manager portfolio providing access to regional or country-specific segregated mandates from different fund managers.
Albany Financial Consultants financial consultant Kelvin Lilywhite says: “Multi-manager approaches all offer one very attractive feature for IFAs and investors – monitoring. All too often the top performing fund one year is a lower performing fund the next. The constant reviewing of each manager on each mandate should offer investors some comfort that in a particularly volatile market such as we are in at the moment.
“In that respect you could say that this product is very suited to the
Lilywhite regards the fund’s total expense ratio as in line with other similar multimanager portfolios, as are the initial charges. “In terms of charges and commission this product is simply average,” he says.
Highlighting the negative aspects of the fund, Lilywhite says: “There is always a danger, as with all multi-manager products, that advisers take that as their cue to simply not review the fund. Multi-manager funds can still turn out to be dogs, particularly as higher overall charges and TERs can eat away at any additional performance gained from the process.”
Lilywhite concludes that the main competition is likely to come from the Jupiter merlin worldwide portfolio, Credit Swiss multi-manager international growth and Credit Suisse multi-manager constellation portfolios.
Suitability to market: Good
Investment strategy: Good
Adviser remuneration: Average