Skandia widens index range

Skandia today announced it is increasing the range of passively managed index funds on its Selestia Investment Solutions platform.

Passive managed funds offer investors a way in which to take broad judgement calls on a particular index or sector, traditionally with lower fees and charges than in actively managed products.

Skandia says that of the 502 active managed Investment Management Association (IMA) funds which invest in British equities, 238 have failed to outperform the FTSE All-Share over 12 months to February 20.

The group says it expects to launch 10 passive funds over the next few months to add to the 21 available on the platform.

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