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Skandia will seek firms’ best ideas for ‘ultimate fund’

Skandia Investment Management is preparing a summer launch for a best ideas fund that it describes as the ultimate concept in multi-manager.

Full details of the global best ideas fund have yet to be finalised but it is likely that 10 fund managers will each run a segregated mandate containing 10 of their best stock ideas.

Skandia says the fund will be designed to reflect how the managers might run their own money. Managers will be free to select their best ideas without the constraint of benchmark weightings and can take big positions in stocks.

Although there could be some overlap, Skandia says this is not a problem in a fund containing 100 stocks.

The fund will invest globally but will have a bias towards the UK to enhance its appeal for domestic investors.

Research for the fund is an at advanced stage and discussions are being held with a range of high-profile managers that will be selected for their proven track records and stockpicking skills.

Skandia expects that other multi-managers will launch copycat funds but believes it will see off the competition.

Marketing and product development director David Orr says: “I like to think we are innovative in our products but product development can only give you a head start for a few months.

“Having said that, we are in a good position. We have good relationships with fund managers and a sizeable research team.

“We are searching for the best managers around the globe and we have the operational skills to do this efficiently. There aren’t many people who could copy the model. You could not do it through a fund of funds.”


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