Skandia merges blend funds into Strategic Bond portfolio

Skandia Investment Group (SIG) has swelled assets in its Strategic Bond fund after merging the Global Fixed Interest Blend and UK Fixed Interest Blend funds into the portfolio.

The group said the move, which will see both the £26m Global Fixed Interest Blend and £50m UK Fixed Interest Blend become part of the £140m Strategic Bond fund, would benefit customers by reducing the impact of charges. As part of the change SIG has also cut the fund's annual management charge from 1.25% to 0.8%. Elsewhere, the group has also merged the Skandia UK Equity Blend fund into its UK Best Ideas fund. It said it is making the change as both funds have similar investment objectives. James Millard, chief investment officer at SIG, said investors will benefit from moving to m...