Skandia Investment Group (SIG) is adding to its range of Best Ideas funds with the launch of a European vehicle.
The range has taken over £750m in 18 months in the UK and now Skandia wants to respond to demand for the funds from Continental Europe.
As a result, European Best Ideas is likely to be a long-only Dublin-based fund with sterling, euro and US dollar share classes.
Initially it will be launched in eight countries in Continental Europe though SIG is currently evaluating demand for the fund in the UK.
The fund will invest in pan-European equities (with exposure to the UK). Like previous Best Ideas funds, it will blend the talents of ten fund managers who will pick their ten best stock ideas.
The fund is structured to offer managers the flexibility of unconstrained stockpicking. Managers will be able to hold significant positions in individual stocks (with up to 25% in a single stock) and will also have the flexibility to move up to 25% in cash.
Although the managers have the flexibility to pursue their best ideas, the overall portfolio is likely to remain diverse as the managers have been selected for their different approaches and investment philosophies.
European Best Ideas will be the fourth Best Ideas fund in the range following Global Best Ideas, UK Best Ideas, and UK Strategic Best Ideas.
Jamie MacLeod, CEO of SIG, says: “We are securing some of the finest fund managers from across Europe to contribute their best ideas to this fund. We are therefore confident that we will deliver a compelling investment proposition for advisers and investors alike.
"We look forward to announcing the manager line-up in due course.”
SIG encompasses Skandia Group’s three investment management companies: Skandia Global Funds (SGF), Skandia Fonder and Skandia Investment Management Ltd (SIML).IFAonline
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