Standard Life has extended its Sigma mutual funds range with a suite of Standard manager of manager funds.The range includes portfolios investing in European equity, global bond, Japanese equity, North American equity, Pacific basin equity, UK bond, and UK equity manager of manager funds. The initial charge for all the funds is 4 per cent with annual charge varying between 1.4 and 2 per cent. Charges are not guaranteed and may be altered to account for changes in costs. Management of the funds has been outsourced through an arrangement between Standard Life Investments and US-based manager of manager specialist Wilshire Associates. Wilshire will pick and monitor the fund managers. Its client list includes some of the biggest pension funds in the world, including Black & Decker and Siemens. Miton Investments fund of fund manager Sam Liddle says: “Everybody is offering multi-manager funds these days and Standard Life have lots of distribution. If the multi-manager concept catches on with the public as opposed to through intermediaries, as it is expected to, then Standard Life will be able to capitalise by having these funds in place. The charges sound fair although 2 per cent is at the higher end of what most multi-managers are charging.”
First State Investments is aiming to raise up to £20m for its Aim VCT, a venture capital trust which invests in the Alternative Investment Market. The management team for the VCT is led by First State head of UK equities Paul Jourdan, who runs the First State British smaller companies fund. This fund, which contains […]
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Dr. Andrew Lo, Founder and Chief Investment Strategist at AlphaSimplex, says the financial market has experienced the ‘Marching Band Effect’ over the past few years, with the various elements moving to left and right together and feeling the risks as one, making the effect more dynamic.
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