The managers include Artemis, Schroder, Lazard, Gartmore, Martin Currie, UBS, Legg Mason, New Star, and US fund giant T Rowe Price. The funds will be launched on March 18.
Fund charges will be 5 per cent initial across the board with 1.5 per cent annual charge for equity funds and a 1.25 per cent annual charge for fixed-interest funds.
Commission is 3.5 per cent initial with 0.5 per cent annual. Minimum investment in each fund is 1,000.
Sub-fund charges bring total expense ratios to 1.8 per cent for the UK fixed-interest fund, 1.85 per cent for the global fixed-interest fund, 2.05 per cent for the UK, US and European equity funds, 2.2 per cent for the Japanese fund and 2.3 per cent for the Far East fund.
The funds will allow IFAs to control clients’ asset allocation while outsourcing the selection of individual managers. The funds cover the UK, US, Europe, the Far East, Japan, and UK and global fixed interest.
The UK equity blend will be comprised of two retail funds – Artemis UK growth and Schroder UK alpha plus, while its four segregated mandates will be run by managers including Tony Willis and Alan Custis from Lazard and Ashley Willing and Simon King at Gartmore. Martin Currie and UBS will run the other mandates.
Skandia chief executive Jamie MacLeod says: “We see these funds as expanding this market further. Feedback from advisers has been incredibly positive.”