Research house van Eyk has reshuffled the multi-manager line-up within its Blueprint Absolute International Shares Fund.
The Arrowstreet Global Active Extension Fund's 25 per cent weighting in the Blueprint product was replaced with an allocation to London-based fund manager Independent Franchise Partners' (IFP) Global Franchise Fund.
"As detailed in the manager update released on . 9 September 2010, Macquarie Investment Management announced that the Arrowstreet Global Active Extension Fund is to be wound up," van Eyk product manager Jacqui Lemon said.
"This is a result of assets falling to a level that increased the risk the fund would be unable to operate efficiently.
"As a result of the liquidation of Arrowstreet, van Eyk has introduced AA rated manager IFP to the fund at a weighting of 25 per cent."
IFP offers a benchmark unaware, concentrated global equity strategy with a strong bias to quality companies, Lemon said.
"Van Eyk believes IFP will be an ideal fit for the fund. IFP invests in high quality companies that are less sensitive than most other companies to fluctuations in economic activity," she said.
"IFP is strongly concentrated in consumer staples, which have accounted for over 50 per cent of portfolio holdings in most years."
Other underlying funds within the van Eyk Blueprint Absolute International Shares Fund include Axa Rosenberg Global 130/30, Five Oceans World and Grant Samuel Epoch Global Equity Shareholder Yield.
