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Skandia European Best Ideas Fund launches in UK


Skandia has launched its European Best Ideas Fund into the UK market via its Skandia Investment Solutions platform. 

The fund will also be available via Skandia’s life and pensions fund range over the coming weeks.
The fund is managed by Skandia Investment Group and has been available in Continental Europe since April 2008.

The fund has EUR240m in funds under management and on its second anniversary has outperformed the MSCI European Index by 5.41 per cent, meaning it is first quartile relative to the Morningstar median for both European equity large cap blend funds and European equity mid cap funds.

The fund is a long-only Dublin domiciled fund with Sterling, Euro and US Dollar share classes.

It invests in pan-European equities and, like SIG’s other Best Ideas funds, blends the top ten investment ideas of world-class investment managers within a single fund.

The fund is structured to offer these high quality investment managers the flexibility of unconstrained stock picking without any padding or filling – so there is no requirement for an investment manager to hold a stock simply because it forms a large part of an index.

Lee Freeman-Shor (pictured), lead portfolio manager of the Skandia European Best Ideas Fund, says: “The investment managers we selected for the Skandia European Best Ideas Fund have delivered great returns during a period of unprecedented stock market volatility. However, we believe the stock picking nature of the fund is even more suited to the market conditions we expect in 2010 and beyond. Over the past couple of years stock markets have been largely driven by macro economic factors rather than stock fundamentals with most markets falling considerably in 2008 and then rallying massively in 2009. Now investor focus has moved to earnings delivery and this should mean the real skill of stock picking will differentiate the winners from the losers and therefore the Skandia European Best Ideas Fund is ideally placed to capitalise on this.”

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