Constellation gets best ideas revamp

Aberdeen's multi-manager team has restructured its £95m Constellation fund into a portfolio of 20 equally-weighted best ideas, in a bid to differentiate it from the range's £66m Equity Managed fund.

Both funds sit in the Active Managed sector and, prior to the restructure, the only difference was the Constellation fund’s focus on boutiques. Constellation was one of a number of multi-manager funds that came across to Aberdeen following its acquisition of Credit Suisse Asset Management. Graham Duce, co-head of multi-manager alongside Aidan Kearney, says: “We have enhanced the construction rules on Constellation so it consists of 20 equally-weighted, high conviction ideas. It is still a global equities portfolio with an orientation towards boutique funds, but we wanted to enha...