Skandia aims for £500m in first-year institutional assets

Skandia is taking its multi-manager approach to the institutional pensions market with the aim of raising £500m in assets under management in the first year. Open to investments of £500,000 or more, investors will have access to Skandia's global multi-manager funds, as well as fund managers not usually seen in the institutional market. All funds will be managed by Skandia, and the life insurer predicts they will see most interest from pension trustees in its flagship Skandia balanced portfolio as it carries an AMC of 0.85% and no entry or exit costs. Non-pensions investors...