View more on these topics

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.”



Recommended

Tories plotting a revolution

The Tories want to revolutionise retail regulation – their plans amount not to reform but to FSA Mark II.

Under Shadow Chancellor Oliver Letwin’s plans, retail investors and savers would get the information they need to make informed decisions but they would not have a system of regulation that sought to minimise their risk when investing.

Mortgage Express hits KFI hitch

Mortgage Express is unable to offer KFIs online as it still preparing its system in the first week of statutory mortgage regulation.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com