Strategic UK Best Ideas managers hike long-only exposure to 60%

Bullish managers take £71m fund's net market exposure to near-record levels

The eight top managers running Skandia's UK Strategic Best Ideas have hiked the fund's net market exposure to a near-record level after becoming more bullish on equity prospects this year. Having recently seen the number of long positions in the portfolio increase, the £71m fund is now at a 60% net market exposure, just three months after it dropped to its lowest ever level of about 40%. The fund currently comprises of 77% in long positions and 17% in shorts. It also holds 6% cash. Launched in September 2007, the Skandia UK Strategic Best Ideas fund is ranked number six out of 307 fun...