Old Mutual International (OMI) has launched three multi-manager funds, adding to its Elite multi-man...
Old Mutual International (OMI) has launched three multi-manager funds, adding to its Elite multi-manager range.
They are the New Economic Themes, a dollar and a sterling-denominated Global Diversified funds.
The New Economic Themes Fund is a dollar denominated vehicle designed to invest globally in funds within technology and technology-related areas.
It is designed to give a more rounded contribution to a portfolio of investments than a pure technology fund.
It will invest in a wide range of countries and sectors. Its benchmark is a composite made up of 50% Nasdaq and 50% MSCI World Index ex-US.
The intention of the fund is to create a less volatile technology offering through diversification. OMI said the fund's typical portfolio will have 60% in global funds, such as SocGen Technology, and 40% in regional or speciality funds, such as Framlington Health.
The Global Diversified funds, which OMI said are designed to make money management easier, are aimed at the balanced investor.
They will invest in a mixture of equity funds, bond funds and cash.
The benchmark for the sterling fund will be the Apcims Sterling Balanced Index.
For the dollar-denominated fund it will be a composite index reflecting similar aims.
OMI estimates that the Sterling Global Diversified Fund is to have a typical breakdown of 55% in UK equity funds, such as the Liontrust First Growth, 20% in overseas equity funds, for example Invesco European Growth, 20% in fixed interest funds, such as Dresdner Gilt, and 5% in cash.
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