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SIM &#39exceeds forecasts&#39 as it sees in first year

Skandia Investment Management celebrated its first birthday last month, saying it has £1.25bn under management and that more than 2,500 IFA firms have placed business with the firm.

SIM, launched by Skandia last year, says it is the secondbiggest seller of multi-manager funds and is in the top 10 for total net sales across the entire UK funds. Last September, SIM set up two income funds which it says have more than £70m assets under management.

During the year, SIM secured partnerships with fund managers Goldman Sachs and T Rowe Price. It has also developed links with leading UK intermediary groups, including Bates Investment Services, Inter-Alliance and Bradford & Bingley.

Chief executive Jamie MacLeod says: “Our first year has exceeded even the most ambitious forecasts and I am delighted to have been able to build a strong team.”

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