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Skandia adding to multi-manager range

Skandia is to add four funds to its life and pension multi-manager range, taking the total number of funds offered to 236 from 22 providers.

The new funds, which will be offered from April 4, will include the range&#39s first zero-dividend preference share fund, Aberdeen&#39s progressive growth fund.

This fund will also be added to Skandia&#39s multi-fund, multi-Isa and multi-Pep ranges during May or June, taking the fund tally to 210 funds from 21 groups.

The three other funds to be added to the life and pension range are the Aberdeen property share, Schroder mid-250 and Schroder medical discovery funds.

Skandia selects funds for its multi-manager ranges on the strength of IFA feedback. However, it checks that funds are selling well through other channels to prevent itself from becoming any fund&#39s main distribution channel.

Skandia investment brand manager Phil Morse says the Aberdeen zero fund has been added to the range principally to provide another lower-risk option for IFAs.

He says Skandia is now also looking to bring more providers into the range over the summer. “There will be a couple of more fund groups in the next couple of months, which is quite a big deal for us,” says Morse.

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