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James Millard CIO, Skandia Investment Group

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SIG to merge funds to deliver customer benefits

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Skandia Investment Group (SIG) is to merge some of its smaller funds into its more established funds with the aim of delivering greater benefits to its customers. The changes received shareholder approval at Extraordinary General Meetings held on 20th June 2011 and the mergers are due to take effect on 30th June 2011.

SIG is merging the Skandia Global Fixed Interest Blend Fund and the Skandia UK Fixed Interest Blend Fund into its recently renamed Skandia Strategic Bond Fund, creating a GBP140m multi manager fund that has significant flexibility to capture opportunities across the fixed interest spectrum. Investors in the Global Fixed Interest Blend and UK Fixed Interest Blend funds will benefit from the Annual Management Charge of their investments falling from 1.25% to 0.8% within the Strategic Bond Fund.  
 
In addition, SIG is merging the Skandia UK Equity Blend Fund into the Skandia UK Best Ideas Fund as both funds share very similar investment objectives and identical AMCs of 1.5%.
 
The funds that are being merged have similar investment objectives and policies and the mergers are expected to improve economies of scale and provide potential for a better result for investors.
 
James Millard (pictured), chief investment officer at SIG, says: “We are taking this proactive approach because it is not in the best interests of our customers to let our smaller funds erode to a size where the annual management charges start having an adverse impact on investment returns or the funds become unviable for us to run. We believe our customers will benefit from moving into our more established funds which are growing and offer significant investment benefits.”

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