Finium expands international line-up
Master trust provider Finium Financial Services has announced changes to its International Shares Pool within the Finium Super Master Plan, following the firm’s decision in October 2003 to removeDeutsche Asset Managementfrom the Plan's international manager line-up.
The changes, which have been reflected across Finium’s range of diversified pools, include the appointment ofBarclays Global Investors(BGI) with a 40 per cent allocation to the BGI International Alpha Equity fund (fully hedged).
BGI was given a smaller interim allocation last year following Deutsche's departure, and the increased allocation replaces theColonial First State(CFS) Wholesale Indexed Global Share fund (unhedged).
Other alterations include the appointment of Wellington Global Research Equity (unhedged) with a 16.7 per cent allocation, which replaces the removed Deutsche Global Equity Thematic Fund, and the introduction of Emerging Markets Equities as a new asset class, with a five per cent allocation to the CFS Emerging Markets Equities fund.
Small re-weightings have been made to accommodate the new structure, including increasing small cap exposure throughJBWere Investment Managementfrom 3.8 to 5.0 per cent, and lower weightings to active global managersLazard Asset ManagementandCredit Suisse Asset Managementfrom 18.7 to 16.7 per cent.
Hedging under the new structure will be achieved via the new fully hedged BGI fund, which supercedes the former 50 per cent hedged passive overlay managed by FX Concepts. FX Concepts remains an active currency overlay manager.
Finium Financial Services chief executive Chris Lumby says the changes reflect the Group's active manager selection and monitoring process which aims to enhance the risk and return offering for investors.
“We believe the introduction of emerging markets exposure, as well as the move from a straight index fund to an enhanced index core, will further improve the fund's ability to produce returns without materially increasing risk."
Finium, previously known as Strategic Investments has $500 million in assets under management.
AUTHOR
Jason Spits
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