Skandia global funds aims to distribute 20 new funds in Europe, 30 by the end of the year
Skandia has created a mutual fund company with the aim of distributing 20 new Dublin-based funds to be managed by a broad selection of European and global investment houses.
Skandia Global Funds, the new company, will determine the fund objective, define the investment mandate, and select and monitor the investment manager for each fund. Skandia already has investment mandates of 145 fund management organisations around the world.
To support this approach, a global investment research committee has been established consisting of members from Skandia companies in the US, UK, Sweden, Germany, Switzerland, Spain, Japan and Australia. The committee will consider a manager's philosophy, process, people and performance to find and monitor managers who are experts in their particular asset class.
The 20 funds cover four different ranges ' specialised equity, diversified equity, fixed income and reserve. Funds selected for the company include ' Fidelity Pacific Equity Fund, JP Morgan Fleming Japanese Fund, BlackRock European Equity ex-UK Fund, Invesco European Equity Fund, ABN Amro Euro Bond Fund and the Carlson SEK Reserve Fund.
At launch, the fund range will number 20, but this should go up to 30 by the end of the year. Many of the companies selected will be well known to European investors, while others are making their debut courtesy of Skandia and are unavailable elsewhere in Europe.
Christian Thwaites, chief executive officer for Skandia Global Funds, said: 'Our value, and also how we will differentiate ourselves, will be through the selection and ongoing management of our investment managers to fit our defined fund objectives. When looking to add funds to the range, we will research what our market wants, as well as what best complements our existing offering. Then we will outsource the selection of securities to an investment manager who is a proven expert at running that type of money and that we think best suits that mandate. Skandia pioneered the 'managing the managers' concept and we will rigorously monitor managers to ensure they continue to meet our objectives and expectations.'
The funds will be available in over 20 countries, sold through the existing network of Skandia companies as well as independent fund distributors such as banks and financial advisers. To support its global business, Skandia Global Funds will have operations in three distinct parts of the globe ' Shelton, CT, USA to support the US NRA and Latin American markets; London to support Europe and Africa; and Hong Kong to support the needs of the Asia Pacific region. Each operation will feature its own sales, sales support, marketing and customer service functions to provide the local market with tailored levels of service.
The funds are Dublin domiciled.
'Life catches up with us in the end'
‘Personalised Predictive Analysis’ tool
Summer series continues
Both start in August