Skandia Investment Group (SIG) has increased exposure to Asia/Pacific and Emerging Market equities in its Global Best Ideas fund, at the expense of Japanese and US stocks.
A part of SIG’s annual asset allocation review, the £420m Skandia Global Best Ideas fund’s allocation has been adjusted to align with the MSCI AC World GDP Index.
The Asia/Pacific (ex Japan) weighting jumped 0.5% and Emerging Markets increased 1%, with the US and Japan down 1% and 0.5% respectively. UK exposure remains unchanged at 50%.
Revised asset allocation is:
- 50% UK
- 16% US
- 14% Europe (ex UK)
- 9% Emerging Markets
- 6.5% Asia (ex Japan)
- 4.5% Japan
Average cash weighting over the last year was 5%, while no one stock has ever been more than 5% of the fund.
"The global markets have been especially turbulent in the last six months or so but the underlying managers have continued to find some great investment opportunities,” a Global Best Ideas fund manager Ryan Hughes says.
“As part of our annual asset allocation rebalance, we have reduced our weighting to the US and Japan following a review of the MSCI AC World GDP Index - suggesting that, in relative terms, Far Eastern and Emerging Market economies, where weights have increased have grown over the previous year."IFAonline
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