Skandia Investment Group intends to launch three US equity funds from the Skandia Global Funds range into the UK market.
Combined, the funds already have £450m under management from investors outside of the UK.
Subject to approval from the FSA and Irish regulator IFSRA, they are anticipated to be made available in the UK in the autumn.
The three funds are Skandia US All Cap Value, Skandia US Capital Growth and Skandia US Large Cap Value. All three funds were previously only available to Skandia’s European, Far East and Latin American customers.
The US All Cap Value fund was launched in April 2002, while the US Large Cap Growth and US Capital Growth funds opened in 2007, in February and April respectively.
The funds are managed by Skandia Global Funds, SIG’s Dublin-based fund management company.
Skandia says these particular funds have been selected from SGF’s range to meet increasing demand from investment advisers and their clients for US equity investment solutions.
Jamie MacLeod, CEO of SIG said: “US equities are becoming a larger part of investors’ portfolios, and these three single-strategy funds help to diversify the choice investors have.”
The US All Cap Value fund will be managed by Mario Gabelli at Gamco Investors. The US Large Cap Value fund will be managed by Bill Priest and David Pearl at Epoch Investment Partners while the US Capital Growth fund will be managed by Tom Marsico at Marsico Capital Management.
Marsico’s relationship with SGF dates back to 2002, said Tom Marsico, CEO and chief investment officer. Marsico also manages Gartmore’s US equity funds, but the Skandia and Gartmore funds run to different criteria and are benchmarked against different indices.
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