Skandia Investment Group (SIG) will launch its retail multi-asset alternative investments fund to investors on 23 June.
Understood to be the UK’s first single retail fund to enable access to primarily institutional alternative vehicles, the multi-manager offering blends together 10 alternative investments – including timber, water and currency.
The Skandia Alternative Investments fund will run in the IMA Absolute Return Sector and is typically expected to deliver a total return over rolling 12-month periods.
It will be available to advisers via Skandia’s life and pensions products, the Selestia platform and Skandia International’s offshore bonds. SIG says the vehicle will be added to FundsNetwork and Cofunds in due course.
SIG chief executive Jamie MacLeod says investors will enjoy access to a range of asset classes not widely available previously.
“Despite recent volatility in markets, investors are looking for something new and innovative to invest in,” he says.
“The Skandia Alternative Investments fund offers them the opportunity to spread risk in a fund which complements their existing investments.”
Initial charge is 5% and AMC is 1.5%. SIG says total cost of all annual charges and expenses (including AMC) is estimated to be 2.45%.
The standard initial commission level is 3.5%, while 0.5% trail applies on direct business.IFAonline
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