Skandia strips fixed interest mandate from Threadneedle

Nordea 1 - European High Yield Bond, run by Capital Four Management, replaces Threadneedle European High Yield Bond within the £30m Skandia Global Fixed Interest Blend, £61m Bond Income, and £314m Diversified funds. The change comes after Skandia undertook a reassessment of its fixed interest holdings after seeing many subordinated financial bonds downgraded during the credit crisis. Adam Smears, the head of fixed income research at Skandia Investment Group, says: "Despite being somewhat unknown to UK investors, Nordea is a leading financial services group in the Nordic and Baltic Sea...