Bestinvest says
We awarded this fund a three star rating at launch largely because of the esteem in which we held the original managers. However, since then there have been a number of changes, leaving just one underlying manager that qualifies for a Bestinvest star rating. Therefore, whilst we generally like the concept of a best ideas fund, as a result of our reduced confidence in the underlying managers, we no longer rate this fund a buy.
The fund invests in the ten best ideas of ten managers from different investment houses, giving up to 60 stocks in total. Whilst Skandia monitor individual manager performance and may change a manager at any time, they do not enforce a top down view of the economy so any sector allocation is purely a function of the stock ideas.