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.”