Swedish manager Carnegie Fonder has flagged up two new balanced funds - Carnegie Total Plus och Carnegie Multi - which will launch on 4 March.
The Total Plus fund invests globally, 80% in equities and 20% in fixed income, and therefore carries higher risk than the existing Carnegie Total fund's 60/40 model.
The strategy will chiefly invest in a selection of holdings from the manager's most successful equity and bond funds, but also funds from other brands in the multi-boutique Carneo Group of affiliated asset managers. Besides Carnegie fonder, this includes C Worldwide Asset Management, OPM Optimised Portfolio Management, Nordic Cross Asset Management, Carneo Solutions and Albatris.
The Carnegie Multi also has a global mandate and invests 40% in equities, 30% in fixed income and 30% in alternatives, including hedge funds. It too will seek ideas from other products in the Carnegie range and the Carneo Group affiliates. However, it also has the ability to invest in funds that otherwise would only be available to direct investors, including the Carnegie Micro Cap and Carnegie High Yield Select, which are two of the manager's so-called specialfonder - Swedish funds that typically would meet local investor needs.
Both the new funds are actively managed. Strategic asset allocation is used to ensure the risk level is held constant, while tactical allocation includes allocation within the alteratives space for the Multi fund.
Both funds will also rely on multiple Carnegie portfolio managers for allocation advice and insight into the asset classes. Magnus Gustafsson (pictured), who is manager of the Carnegie Total fund, is responsible for allocation; Maria Anderson, manager of Carnegie Corporate Bond and High Yield Select funds, oversees rates and macro; Fredrik Colliander, manager of the Carnegie Rysslandsfond (Russia fund), covers emerging markets; John Strömgren, manger of the Carnegie Strategifond, is responsible for strategy and equities; and Hans Hedström, CEO and CIO, is responsible for strategy.
|Carnegie Multi 40/30/30||Carnegie Total 60/40||Carnegie Total Plus 80/20|
|40 % Equities (+/- 5%) Carnegie Fonder, OPM, CWW||60% Equities (+/- 5%) Carnegie Fonder, OPM, CWW||80% Equities (+/- 5%) Carnegie Fonder, OPM, CWW|
|30% Fixed income (+/- 10%) Carnegie Fonder||40% Fixed income (+/- 5%) Carnegie Fonder||20% Fixed income (+/- 5%) Carnegie Fonder|
|30% Alternatives (+/- 10%) Nordic Cross, Hedgefonder|
|Risk level: weak 4 of 7||Risk level: strong 4 of 7||Risk level: 5 of 7|