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Old Mutual restructures Skandia US fund and rebrands Dublin line

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Old Mutual Global Investors has restructured the Skandia US All Cap Value fund, while streamlining the Dublin-domiciled Skandia Global Funds range.

The Skandia US Value fund will be merged into the Skandia US All Cap Value fund and the combined vehicle will be called the Old Mutual US Dividend fund.

As part of the reshuffle, the fund has a shareholder-approved change of objective to target large capitalised US stocks with dividend characteristics that appear undervalued relative to their market value.

It is managed by Old Mutual Group affiliate Barrow, Hanley, Mewhinney & Strauss. The lead portfolio manager is Ray Nixon, who is supported by assistant portfolio managers Lewis Ropp and Brian Quinn.

Nixon says: “We look for stocks that not only pay, but grow their dividends. It is a fact that reinvested dividends form a significant part of the long-term total return produced by equities.”

Furthermore, OMGI has renamed all the funds in its offshore line as part of bringing together the Skandia Investment Group and Old Mutual Asset Managers UK businesses.

The name changes will be reflected in the sub-funds of the range. Changes to the range of funds were made effective from 19 April.

The changes are:

Skandia Global Funds changes
Current Fund Name New Fund Name 

Skandia Global Equity fund

Old Mutual World Equity fund

Skandia US Large Cap Growth fund

Old Mutual US Large Cap Growth fund

Skandia US Capital Growth fund

Old Mutual US Capital Growth fund

Skandia US All Cap Value fund

Old Mutual US Dividend fund

Skandia US Large Cap Value fund

Old Mutual US Large Cap Value fund

Skandia European Equity fund

Old Mutual European Equity fund

Skandia Swedish Equity fund

Old Mutual Swedish Equity fund

Skandia Swedish Growth fund

Old Mutual Swedish Growth fund

Skandia Swiss Equity fund

Old Mutual Swiss Equity fund

Skandia Japanese Equity fund

Old Mutual Japanese Equity fund

Skandia Pacific Equity fund

Old Mutual Pacific Equity fund

Skandia Greater China Equity fund

Old Mutual Greater China Equity fund

Skandia Asian Equity fund

Old Mutual Asian Equity fund

Skandia Global Emerging Markets fund

Old Mutual Global Emerging Markets fund

Skandia Global Bond fund

Old Mutual Global Bond fund

Skandia Emerging Market Debt fund

Old Mutual Emerging Market Debt fund

Skandia Local Currency Emerging Market Debt fund

Old Mutual Local Currency Emerging Market Debt fund

Skandia Total Return USD Bond fund

Old Mutual Total Return USD Bond fund

Skandia Swedish Bond fund

Old Mutual Swedish Bond fund

Skandia Investment Grade Corporate Bond fund

Old Mutual Investment Grade Corporate Bond fund

Skandia SEK Reserve fund

Old Mutual SEK Reserve fund

Skandia Healthcare fund

Old Mutual Healthcare fund

Skandia Technology fund

Old Mutual Technology fund

Skandia European Best Ideas fund

Old Mutual European Best Ideas fund

Skandia Managed Futures fund

Old Mutual Managed Futures fund

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