The £43m vehicle, which was managed by William Priest, is just one of a number of mergers and closures which have largely come about as a result of Old Mutual Asset Management’s merger with Skandia Investment Group earlier in the year. The Dividend fund is outsourced to Dallas-based firm Barrow, Hanley, Mewhinney & Strauss.
In other changes to the firm’s US equity fund range, the US Value Fund has also been merged into the US Dividend Fund, while the US Large Cap Growth vehicle has been folded into the US Capital Growth offering, and the combined entity has been renamed the North American Equity Fund, managed by Ian Heslop. All funds are in the firm’s Dublin offshore range.
As part of the rationalisation three Swedish funds – Swedish Equity, Swedish Growth and SEK Reserve – closed in August while the firm’s Technology, Healthcare and Swiss Equity funds were closed down in October.
