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Skandia offers multi-manager fund

Skandia has set up a new multi-manager fund bringing together the talents of Jupiter, SG Asset Management and Merrill Lynch Investment Managers.

The UK dynamic fund is available through Skandia&#39s life and pension products and will be the third in its UK equity fund range alongside its UK index and UK equity funds.

MLIM will manage 50 per cent of the portfolio, SGAM 35 per cent and Jupiter the remaining 15 per cent.

The three managers will also assume responsibility for the active portions of Skandia&#39s Portfolio fund range, which is currently run by MLIM alone.

The active half of the existing Skandia UK equity fund will be split, with 25 per cent managed by MLIM, 17.5 per cent by SGAM and 7.5 per cent by Jupiter. Gartmore remains responsible for the fund&#39s passive management.

Skandia investment brand manager Phil Morse says: “This further diversifies manager-specific risk and enhances their risk return profile.

By launching this fund, we are clearly demonstrating that multi-manager investment means something distinctive to us compared with the rest of the market.”

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