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Skandia adds Sarasin International Equity Income Fund to its platforms

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Skandia has added Sarasin International Equity Income Fund, which has a current net yield of 5.83 per cent per annum, to its Selestia Investment Solutions and life and pensions fund ran

Skandia has added Sarasin International Equity Income Fund, which has a current net yield of 5.83 per cent per annum, to its Selestia Investment Solutions and life and pensions fund range.

The fund was launched on 16 May 2006 and is managed by Mark Whitehead and Guy Monson, rated A and AA by Citywire respectively. 

It now has assets under management of over GBP70m and offers a diversified and well-managed route to strong global companies with defined dividend paying policies.

Andrew Thompson, director of distribution at Sarasin & Partners, says: ‘With most deposit rates returning close to zero, IFAs are keen to offer investors modern and proven income solutions. Sarasin International Equity Income Fund delivers. UK Equity Income funds have been popular for many years, but we believe there are now vital diversification benefits await-ing investors going global in search of equity income. As UK company profits fall and dividends come under threat, the UK equity income sector is looking less attractive, particularly too, as one third of the total dividends paid by the whole UK equity market will come from just three companies, HSBC, BP and Royal Dutch Shell in the coming year. Moreover, this UK sector is currently dependent upon just the 20 largest dividend paying companies accounting for 75% of all UK equity market dividends. We favour the diversification benefits you get with an international portfo-lio of blue chips which have strong balance sheets and powerful cash flow, meaning they can increase dividends in future years.’

Graham Bentley, head of investment marketing at Skandia (pictured), adds: ‘We anticipate a real appetite for Sarasin International Equity Income Fund on Skandia’s life and pensions and Selestia Investment Solutions platforms. Although there is no IMA sector for global equity income funds at present, we believe that the fund’s admission to our platforms will provide wider access for advisers to diversified sources of equity income. Skandia has a strong relationship with Sarasin & Partners and look forward to further strengthening this relationship in the future.’

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