Skandia Investment Group has removed RLAM from management on its £200m Corporate Bond fund, handing control of the vehicle to Fidelity.
The Skandia Corporate Bond fund, which will now be run by Fidelity veteran Ian Spreadbury, is part of the group's Signature range of single manager products.
SIG head of fixed income Adam Smears says Fidelity has demonstrated superior risk adjusted returns over a full cycle.
"Their strategy is more liquid, in keeping with a core corporate bond portfolio," Smears says. "Their risk management techniques have proved to be very effective in the bear market of 2007/08 and the subsequent recovery in 2009."
Fidelity Investment Managers UK managing director Gary Shaughnessy adds: "As one of the most important asset classes for investors in today's uncertain markets, the need to deliver consistently good performance is paramount.
"We have invested in our fixed income capability for many years and we look forward to using the team's experience and skill to the benefit of Skandia's clients."
Annuity market worth £4bn in 2017
For ‘distress’ caused
Oversees £30bn of advised and D2C assets
Less than a third of top paid employees are women
£1bn business since inception