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Snowdonia aims to hit the Fof heights

IFA firm Buckles Investment Services has established a fund of fund range that will be available to retail investors through Skandia and Scottish Equitable.

The Snowdonia Oeic fund of fund range, which is administered by Premier Portfolio Managers, consists of three funds – Snowdonia income, Snow-donia balanced and Snowdonia growth.

The management of the funds will be outsourced to different investment managers.

Premier investment director David Hambidge, who was part of the investment team responsible for Premier’s funds of funds at launch in 1995, will run the income fund.

This fund has a target yield of 4 per cent a year and it will be managed against a composite benchmark split equally between the FTSE All Share and All Stocks gilt indices.

Hambidge will use the same approach as his selector income portfolio and will look at funds such as Baillie Gifford corporate bond, Jupiter income and DWS UK equity income.

Up to 60 per cent of the portfolio will be invested in UK equities while the remainder will be invested in bonds and cash.

The balanced fund is run by Mercater Capital Management director and investment manager, David Oakes who is one of the founding members of Mercater Capital Manage-ment. Mercater is a multi-manager specialist which was established in 2003. Oakes has more than 25 years’ experience in the investment business.

The fund will typically hold 46 per cent in UK equities, 25 per cent in overseas equities, 25 per cent in fixed interest and 4 per cent in cash but is also allowed up to 15 per cent exposure to property.

The growth fund is managed by Quintin Ings-Chambers and Nicholas Dawson Paul of Rensburg Investment Management against a composite benchmark divided equally between the FTSE All Share and FT World ex-UK sterling indices.

It will contain funds such as Artemis UK special situations, Cazenove UK growth & income and Findlay Park US smaller companies.

All three funds have a minimum investment of 3,000 or 50 a month, an initial charge of 5.27 per cent and an annual charge or 1.5 per cent.

Buckles director Steve Daborn says: “This is the only fund of funds range that has three managers with expertise in different areas. We expect to have at least 25m under management by the end of the year.”


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