Skandia Investment Group has proposed to overhaul Francois Zagame’s Equity Income fund of funds, Investment Week reports. O’Shaughnessy Asset Management will take on management of the £66 million fund after getting shareholder approval and its multi-manager strategy will change. The fund will also be rebranded to Skandia Global Equity Income. The fund will be investing in a portfolio of global equities directly in transferable securities in order to provide exposure to a diversified portfolio of global equities. The group will also rebrand its Bond Income fund to the Strategic Bond fund and remove its income smoothing mechanism. The vehicle will add dollar and euro hedged share classes.
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