Skandia revamps
Ross Laidlaw
Skandia has announced a range of changes to its multi-manager funds arrangements flowing from the scale generated by last year’s acquisition of Intech.
Skandia chief executive Ross Laidlaw said the group had implemented superior portfolio structures designed to boost after-tax outcomes as well as improve the return potential and risk/return characteristics of the Skandia funds.
He said mandate structures had been introduced where appropriate for Skandia multi-manager funds, with the mandate structuring meaning that the funds could tap into quality managers not open to new investors or only available through mandates.
Laidlaw said this also enhanced the funds’ flexibility and efficiency when implementing investment strategies, and investors benefited from greater transparency of their holdings.
He said centralised portfolio management (CPM) techniques had also been introduced to manage investments in Australian shares held by the Skandia multi-manager funds, with Vanguard being appointed to manage a CPM portfolio.
Laidlaw said that as a result of portfolio structure improvements to the Skandia funds, a number of manager changes in the areas of Australian and international equities, property and fixed interest had been implemented through September and early October. He said a specialist transition manager, focused on maximising efficiency, was employed to executive the manager changes and, where possible, stocks were transferred in specie so transaction costs had been minimised.
AUTHOR
Mike Taylor
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