Skandia switches from RLAM to Fidelity on £200m bond fund

Skandia Investment Group has removed RLAM from management on its £200m Corporate Bond fund, handing control of the vehicle to Fidelity.

The Skandia Corporate Bond fund, which will now be run by Fidelity veteran Ian Spreadbury and Ian Fishwick, is part of the group's Signature range of single manager products. SIG head of fixed income Adam Smears says Fidelity has demonstrated superior risk adjusted returns over a full cycle. "Their strategy is more liquid, in keeping with a core corporate bond portfolio," Smears says. "Their risk management techniques have proved to be very effective in the bear market of 2007/08 and the subsequent recovery in 2009." Fidelity Investment Managers UK managing director Gary Shaughness...