By MARK HINTON 28/06/2006
Skandia have blended together a high quality group of 10 investment managers and given them the freedom to select their top ten best stock ideas. The remit is global with a UK bias and has few constraints imposed. Essentially investors are reliant on manager stock selection skills. The portfolio of 100 stocks will at times deviate markedly from the benchmark. Whilst Skandia monitor individual manager performance and may change a manager at any time, they do not enforce a top down view of global economies so any sector allocation is purely a function of the stock ideas.
Bestinvest research rate the majority of the individual managers highly and believe the concept is interesting. Charges are on the high side however and performance will need to be strong to justify these and at times volatility could be high. We award this fund a new 3 star rating.