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Skandia picks 10 for alternatives

Skandia Investment Group has revealed the list of 10 managers for its alternatives multi-manager fund.

The fund invests in 10 asset classes ranging from timber to volatility. Funds on the list include BlackRock’s gold and general managed by Graham Birch, who will cover precious metals, and Lehman Brothers Stephane Rougier who will cover commodities through the commodity plus fund.

Other funds include Fulcrum alternative beta plus, KBC eco water, TG RARE infrastructure, Morgan Stanley FX alpha plus, Morley absolute tactical asset allocation, JPM Highbridge statistical market neutral and Commerzbank UK premia fund.

BNY Mellon is to manage the timber portion of the fund through a passive investment.

The fund is in the absolute return sector. Initial charge is 5 per cent and annual 1.5 per cent.

Chief executive Jamie MacLeod says: “This is a step-change in the fund management industry. It is all the more significant, given its unique ability to provide investors entry into a whole new range of asset classes that previously they may not have been able to access.”

SIG has tweaked the asset allocation of its £420m global best ideas fund after an annual review. The fund holds 50 per cent in the UK and 50 per cent overseas fund managers.

Exposure to Japan and the US drops 0.5 and 1 per cent respectively, with emerging markets exposure up by 1 per cent and Asia ex Japan up 0.5 per cent.

Fund manager Ryan Hughes says: “The global markets have been especially turbulent in the last six months or so but the underlying managers have continued to find some great investment opportunities.

“As part of our annual asset allocation rebalance, we have reduced our weighting to the US and Japan after a review of the MSCI AC World GDP Index, suggesting that, in relative terms, Far Eastern and Emerging Market economies, where weights have increased have grown over the previous year.”

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