Skandia replaces CFS with Perennial
Skandia has replaced the Colonial First State Property fund with Perennial’s Australian Property Securities Fund, following the departure of Stephen Hayes and his team to Perennial in January this year.
According to head of investments Will Burkitt: “Hayes and his team are highly experienced and will continue to apply their successful investment approach from a low asset base, allowing maximum portfolio management flexibility.
“The sophisticated research models combined with a team focus and Stephen Hayes’ high level of experience makes this an attractive fund for those investors wanting property in the performance mix.”
In addition, Skandia has added an additional five funds to its investment menu, including an absolute return fund (ARF), one of the few currently available to retail investors.
Burkitt said: “As we all know, recent market returns have been very strong, and in such an environment it is easy for investors to forget that markets fall as well.
“The Skandia ARF acts to balance investors’ portfolios from loss should markets decline, while at the same time retaining healthy above cash returns.”
The fund has been developed in conjunction with Mercer Investment Consulting over the last 12 months, and aims to offer investors daily liquidity and lower fees — two factors that often discourage individuals from investing in alternatives.
“The fund exhibits low correlation to traditional markets and delivers stable higher returns than cash.
“This combination of alpha and beta-based strategies ensures the portfolio is diversified, such that a bear market would not likely have a great effect on returns,” Burkitt said.
A total of nine funds will make up the Skandia ARF, with domestic offerings including the AXA Australian Property Fund, GMO Australian Market Neutral Trust and QIC Active Currency Trust.
The Barclays Global Ascent Fund, Macquarie International Infrastructure Securities Fund and Pimco Global Commodity Real Return Fund will make up some of the international weightings.
Skandia has also announced the launch of the Skandia Blended Property Fund, Skandia Macquarie Diversified Fixed Income Fund, Skandia Goldman Sachs JBWere Australian Infrastructure Fund, and Skandia Premium China Fund.
Investors can access all products through the entire range of Skandia products, excluding corporate superannuation.
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