UK Equity Fund debut for Skandia

Royal Skandia has launched a UK Equity Fund designed to maximise the balance between risk control and potential for out performance.

The portfolio tracks the performance of the FTSE All-Share Index and there is an equal split between actively and passively managed assets.

Charges relate from product level not a fund level and start from 1% depending on what insurance product you purchase with the fund. The minimum amount of investment is £15,000 with a £2,500 minimum investment at product level. The minimum premium amount is £100 a month.

Instead of being managed by a single investment house Royal Skandia has chosen both Gartmore Investment Management and Merrill Lynch (formerly Mercury Asset Management) as fund managers. So, if one manager under performs Royal Skandia can rectify the situation quickly. Investments can be denominated in dollars, $HK and GBP.

Philip Morse investment brand manager of Skandia says: "We were lacking this type of UK Equity Fund, we have a big investment research team at Skandia and using their experience to actively track funds has been successful in our pension and life insurance funds."

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