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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.”

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Apple: a stellar technology story

By Ali Unwin, head of technology sector research

Apple recently announced the highest-ever recorded quarterly net profit ($18bn), with the sale of 74.4 million iPhones helping the company deliver $74.6bn of revenue for the quarter ending December 2014. These sales were largely driven by strong demand for the new iPhone 6 and iPhone 6 Plus. Highlights included Chinese iPhone sales doubling year-on-year and unit growth of 44% in the US — supposedly a well-penetrated market. Apple ended the quarter with $178bn in cash on its balance sheet, having generated a staggering $30bn in free cash flow during the quarter.

At Neptune, we have been long-term believers in the Apple story, and continue to hold the stock in a number of our portfolios based on the company’s long-term growth prospects. This is predicated on our belief that Apple has proved thus far that it can — unusually for a consumer electronics company — maintain high margins for a sustained period of time, even as adoption of new technology slows down and competitors produce similar-specification products.

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