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Skandia to launch new income multi-manager range

Skandia is launching a range of four income multi-manager funds towards the end of the month.

They will be branded Generation funds and run by fund manager John Ventre.

The funds are called Generation 3:4, Generation 3:6, Generation 4:4 and Generation 4:6. The first figure represents the capital growth aim, which is CPI plus a percentage; the second figure is the yield.

A Skandia spokesman says: “There is demand from investors for income, with interest rates as low as they are at the moment.”

Hargreaves Lansdown investment analyst Richard Troue says: “Setting out targeted returns can help advisers build portfolios for investors.”

Skandia parent company Old Mutual announced this week it is merging the Skandia businesses within the Old Mutual group into a single business called Old Mutual Wealth. Skandia UK, Skandia International and the Skandia European businesses outside the Nordic region will adopt the Old Mutual Wealth brand over the next two years.

Old Mutual’s recently merged asset management business, comprising Old Mutual Asset Managers and Skandia Investment Group, will come under Old Mutual Wealth but will be branded as Old Mutual Global Investors.

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