Skandia Investment Management (SIM) is to launch a European equity Oeic with fund management provide...
Skandia Investment Management (SIM) is to launch a European equity Oeic with fund management provided by Goldman Sachs.
The product, which launches on 1 May, will be the only way UK retail investors can access the management skill of the Goldman Sachs European equity team, according to SIM.
The Skandia Continental European Fund will be the responsibility of Goldmans' 24-strong European equity team, headed up by David Dick.
It will aim to outperform its benchmark, the FTSE All World Europe ex-UK total return index. Minimum investment in the product will be set at £1,000, with an initial fee of around 5% and an annual charge of 1.5%.
The fund will be available via a Pep and Isa but, as yet, SIM has not finalised intermediary commission details or whether the fund will be available via a regular savings scheme.
Jamie MacLeod, managing director of SIM, said: 'I think it is going to enable us to secure assets very quickly. This team already has a highly successful track record.'
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