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Swip has added exposure to its diversity fund by investing in the First State Global Infrastructure Fund.

Its multi-manager team has also made six additional investments to increase the focus on capital preservation within its fund during difficult market conditions.

The new investments within the Multi Manager Diversity Fund include bond exposure through M&G Optimal Income, PIMCO Global Bond and Julius Baer Absolute Return Bond and increased global equity exposure through CF Odey Opus.

The team has also established an overweight position in hedge funds with purchases of FRM Diversified Alpha and Brevan Howard Global.

The Swip fund was launched in December 2007 and aims to achieve long-term capital growth in excess of inflation through investment in a wide range of asset classes and geographic regions.

The fund is top decile and has been over the past six months taking advantage of strong commodity and hedge performance. It has generated returns of -0.24 per cent, against the median for the Cautious Managed sector of -3.44 per cent.

Mark Harries, head of multi manager at Swip, said infrastructure is an attractive asset class with the capacity to generate strong and reliable returns and is more recession-proof than many other asset classes.

"We selected the First State fund because it invests in large cap companies listed in the more mature economies and we expect it to be less volatile than other infrastructure products.

"We typically have a low turnover on our funds, and we expect that approach to remain over the longer term. However, in a turbulent market, it is more important than ever to be broadly diversified.

"We are constantly researching new opportunities in the market to find funds which reflect our cautious approach to preserve investors’ capital in tough markets and these new funds all met our stringent criteria and have an excellent long term track record," he said.