Fiducian reshuffles Oz share fund

Listed financial planning dealer groupFiducian Portfolio Serviceshas reshuffled the list of managers on its Australian Shares Fund, awarding two new Australian equity mandates to SchroderInvestment ManagementandAusbil Dexia.

The two managers will each manage an unnamed portion of the $120 million fund, which is offered by Fiducian to its network of financial advisers.

Schroders, a growth style manager, is a direct replacement for Jardine Fleming Capital Partners, which has been dropped from the Fiducian fund after a period of volatile performance.

“Schroders replaces Jardine Fleming directly in the sense that they are both growth managers,” Fiducian Portfolio Services investment manager Conrad Burge says.

“Schroders has been a better performer than Jardine, but they are also not as growth oriented. Schroders is more diversified and therefore less volatile, which suits the style of the [Fiducial Australian Share Fund].”

Schroders has also been added to the Fiducian Collection, a list of managers approved by the dealer group for its financial planners who want to make a direct investment.

Ausbil Dexia, a style neutral manager, will be added to the Fiducian list as the second style neutral manager, along withBarclays Global Investors, on the Australian Share Fund’s list.

Burge says Ausbil Dexia will help to smooth out the performance of the Australian share fund across the spectrum of market cycles.

The two new managers will join value oriented Investors Mutual, growth focussedColonial First Stateand Melbourne based boutique manager Wallara, who are already managing a part of Fiducian’s Australian share fund.

Fiducian offers its advisers a total of 10 investment funds, including an international share fund, an Australian small companies fund, a property fund and three diversified funds.