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Ryan Hughes, Skandia Investment Group

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SIG reweights Global Best Ideas fund following MSCI revisions

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Skandia Investment Group has adjusted the target allocation on its GBP290m Global Best Ideas fund following the recent revisions by the MSCI of the MSCI AC World GDP Index weights.

The European weighting has been reduced from 14.45 per cent to 13.61 per cent, the US from 15.01 per cent to 15.27 per cent, Japan from 4.69 per cent to 5.01 per cent, Asia from 6.41 per cent to 6.80 per cent and emerging markets from 9.44 per cent to 9.31 per cent.

The UK weighting stays at 50 per cent.
 
The fund celebrated its fourth anniversary on 13 June, returning 12.2 per cent since its inception, outperforming the IMA Active Managed sector by almost five per cent.

It aims to provide long-term total return from capital growth and income through investment in global securities.

While it has a global remit, the fund has a core 50 per cent weighting towards the UK, which is currently divided between five different managers who have a range of investment styles, aiming to take advantage of the best opportunities in different areas of the market.

Ryan Hughes, senior fund manager, Skandia Investment Group, says: “Given all of the economic activity over the past 12 months, the movements reflect what we have known for some time – most economies have been recovering well with the exception of Europe which has been significantly hampered by southern European countries. “The result is that the European allocation falls 0.84 per cent, with the US, Asia and Japan all benefitting from increased weights. While the reduction in emerging markets may seem surprising, this has been driven by a 0.73 per cent fall in the weight of Russia.”

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