Skandia has handed three fixed interest mandates within its multi-manager funds from Threadneedle to Nordea.
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 to high yield indices during the credit crisis. "Despite being somewhat unknown to UK investors, Nordea is a leading financial services group in the Nordic and Baltic Sea regions and Capital Four has a proven track record managing...
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