Standard Bank Offshore has completed its range of strategist funds with the introduction of the US $ balanced strategist portfolio.
Based in Jersey, the balanced strategist portfolio is an open-ended investment company (Oeic) offshore fund of funds aimed at UK and offshore investors who are looking for exposure to global stockmarkets and are comfortable with a medium level of risk. The product is an offshore version of the existing US $ balanced strategist portfolio, based in South Africa. The other two funds in the strategist range are the conservative fund and the aggressive fund.
Balanced strategist will aim for growth by investing in a combination of equities, bond and cash funds. The equity section will invest in the US, Europe, Japan, Far East, UK and emerging markets. The funds will include ones managed by fund managers such as Mercury, HSBC, Newton, Gartmore, Perpetual, Lloyds TSB and Barclays.
The fund will be managed by Andy McGuigan, who is also managing the other two funds in the strategist range. McGuigan joined Standard Bank Offshore in 1996, before which he had worked as an investment manager at Hambros Bank for nine years.
According to Standard & Poors the South Africa-based Standard Bank balanced strategist portfolio is ranked 10 out of 34 funds, based on £1,000 invested on a bid-to-bid basis with gross income reinvested over one year to July 30, 2001.