SIG launches Investment Grade Corp Bond fund

Skandia Investment Group is adding an investment grade corporate bond fund to its Dublin-based range of single-manager products.

The Skandia Investment Grade Corporate Bond fund will be run by US-based institutional group Wellington Management and be available in sterling, dollar, euro and Swedish kroner hedged share classes. SIG says the fund, which will be benchmarked to the Barclays Capital Global Aggregate Corporate Index hedged to dollars, aims to take advantage of the still historically wide corporate bond spreads. Currency risk is primarily hedged to the share class, although the manager may unhedge partially to exploit attractive investment opportunities. Wellington also has the flexibility to use de...