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Skandia concentrates on multi manager approach

Skandia has added to its range of multi-manager funds with the introduction of the Skandia UK active equity fund.

The fund will be divided into three actively managed sections, with a different manager for each part. Merrill Lynch Investment Management will manage 50 per cent of the fund, with 35 per cent managed by Societe Generale and the remaining 15 per cent managed by Jupiter.

Each manager will address different areas of the market. Jupiter will look at small to mid cap companies in the UK, across the full range of available sectors. Societe Generale will look at medium cap companies, while Merrill Lynch will look at the whole market and will identify companies that it feels offer good long-term potential.

The new funds fits into Skandia’s existing range. The other two multi-manager UK equity funds are the Skandia UK Index fund, which is passively managed by Gartmore, and the Skandia UK Equity fund, which combines passive and active elements from Gartmore, Merrill Lynch, Jupiter and Societe Generale.

With the stockmarkets still undergoing volatility due to fears of a recession in the UK, many investors are consequently uncertain about investing at all. By taking the multi-manager approach, Skandia is spreading the risk about, which could encourage some investors back into the market.

According to Standard & Poor’s the Skandia UK Index fund is ranked 110 out of 215 funds in its sector, while the Skandia UK Equity fund is ranked 19 out of 215 funds, based on £1,000 invested on a bid to bid basis with net income reinvested over three years to August 1, 2001.

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