Scottish Widows Investment Partnership (Swip) plans to launch a high alpha UK fund when its new head...
Scottish Widows Investment Partnership (Swip) plans to launch a high alpha UK fund when its new head of UK equities, Robert Waugh, joins the group in October. Targeted purely at intermediaries, the fund will not be marketed at Lloyds TSB bank customers due to its high-risk nature. The portfolio will be modelled on the £8.7m Edinburgh Absolute Alpha fund, which Waugh managed at EFM from December 2002. It holds a concentrated portfolio of 25-35 stocks, aims to achieve absolute returns and can hold up to 100% cash. Swip's UK Select Growth fund, managed by Ian Cormack, is currently it...
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