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Skandia’s best ideas fund duo net £330m

Skandia Investment Management has pulled in more than £330m in its UK and global best ideas funds since launch.

One of the fastest-selling fund launches in recent history, UK best ideas has taken over £203m in one month while global best ideas has taken £127m within five months.

Skandia IM has now released a full breakdown of the UK best ideas portfolio, which reveals it has 44.95 per cent invested in the FTSE 100, 30.78 per cent in the FTSE 250, 7.66 per cent in the FTSE small-cap index and 12.16 per cent in Aim. The balance of 4.45 per cent is in cash.

Looking at the 10 underlying managers, Artemis’s Mark Tyndall has the biggest weighting with 15 per cent. Gartmore’s Ashley Willing, New Star’s Stephen Whittaker, Merrill Lynch’s Richard Plackett and Anthony Nutt of Jupiter all have 11 per cent. Richard Buxton of Schroders and Old Mutual’s Ashton Bradbury have 10 per cent. The remainder is split between Axa Framlington’s George Luckraft and Roger Whiteoak and Rathbones’ Carl Stick.

Chief investment officer Alan Durrant says: “There are some managers in the blend who will be very active, holding shares for a matter of days or weeks. Such managers are looking to identify scraps of news flow which might send a share price up 10 per cent in the very short term. Other managers are looking for companies which might double or treble but over a longer period.”


NU to go ahead with reattribution plan

Norwich Union parent Aviva looks set to press ahead with plans for the reattribution of the inherited estate of two of its with-profits funds. Clare Spottiswoode has been confirmed as policyholder advocate but no final deal is expected until at least 2008.

Warming to green issues

There seems little doubt that the leading political theme today is the environment. Just look at the amount of press coverage that the Stern report received.Now I have to admit that I remain somewhat of a sceptic on global warming or perhaps what is causing it. I also have to admit that I am no […]

Invista European Real Estate Trust announces IPO

Invista is set to float its Luxemburg registered European Real Estate Trust and is seeking a listing on the London Stock Exchange.The IPO is expected to raise more than £166m giving the company a market cap of £207m as at admission at the offer price.Invista Real Estate Investment Management (REIM) was formerly the property fund […]

‘Balance-sheet lenders will look to securitisation’

DB Mortgages managing director Bill Dudgeon predicts that balance-sheet lenders will turn to securitisation in the coming years to remain competitive.Former TMB managing director Dudgeon, who quit HBOS last September to join Deutsche Bank, told the Mortgage Business Expo that he expects more lenders to follow his firm’s business model.BM Solutions says it is considering […]


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