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Skandia launches new European Best Ideas fund

Skandia is adding to its selection of Best Ideas multi-manager funds with the launch of a new European fund.

The fund is available to UK advisers through Skandia International’s offshore bonds.

Skandia says the fund will invest in pan-European equities, lending upon the best ideas of ten fund managers, including Odey’s Crispin Odey, Argonaut’s Barry Norris, First Private’s Tobias Klein, Acadian’s Terry Burnham, SVM’s Hugh Cuthbert, Gartmore’s Roger Guy and Allianz’s Dirk Enderlien .

Following the Best Ideas concept, the managers will pick their ten best stock ideas and combine them in a single fund. Each manager will run 10 per cent of the fund.

Skandia Investment Group chief executive Jamie MacLeod: “The Best Ideas concept is a success because it is simple to understand yet offers investors access to some of the best fund managers in the world. Investors like the fact that their money is being invested in the stocks that these leading fund managers have true conviction in. We are enthused to see how popular this new fund proves to be in Europe.”


Causes for concern

So far this year, we have seen volatile stockmarkets, a painful credit crunch which still has to reveal its full damage and rising distribution costs.

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