Skandia UK Strategic Best Ideas hits record 80% net long

Skandia's UK Strategic Best Ideas fund has reached an all-time-high net market exposure following the removal of two mandates last month.

UK Strategic Best Ideas – which brings together the top stock tips, either long or short, from seven different fund managers – has hit 80% net long for the first time in its two-and-a-half-year existence. SIG fund manager Ryan Hughes says the fund’s underlying managers are positioning their respective portfolios for a continued rally in UK equities. “Market exposure within the fund hit its lowest level of 40% in March last year but has now reached just over 80% as managers find ever increasing numbers of stocks they think will benefit from the economic recovery,” he says. The group...