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Skandia adds four Schroder funds

Skandia Investment Management has selected four Schroder funds to be made available through its new multi-manager investment funds range.

Skandia’s new asset allocator range will consist of five country-specific equity vehicles – UK, US, Japan, Europe and Far East plus UK and global fixed-interest offerings.

The four Schroder funds are Schroder UK alpha plus, Schroder European alpha plus, Schroder Tokyo and Schroder strategic bond. The UK alpha plus fund has returned 8.6 per cent over a year and is ranked 308th of 324 in its sector, with 451.4m invested.The other funds are ranked between third and ninth in their sectors and returns over the last year have been 25.1 per cent for the European alpha plus, 7.7 per cent for the strategic bond fund and 15.6 per cent for the Tokyo fund.

Hargreaves Lansdown head of research Mark Dampier says: “The UK alpha plus fund had a very good 2003 but a diabolical 2004. It started the year well but Richard Buxton, the manager, took profits too early out of resources when he should have stayed the course. He also invested heavily in banks which have not performed as well as expected. Having said that, I can see why Skandia have selected the fund based on the 2003 performance. I was more surprised they would include a bond fund.”

Schroders head of UK retail sales Neil Bridge says: “Skandia have already demonstrated outstanding sales results with their multi-asset product and I have no doubt this new initiative will be a resounding success. With strong sales, marketing and distribution capabilities, Skandia’s asset management business is well placed to grow its market share even further.”

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