Skandia Global Funds, the Dublin-based division of Skandia Investment Group, is to offer five of its open-ended US funds to investors in the UK.

Though acknowledging that there were testing times ahead for the US market, the firm held hopes that there would be a return to stability. The funds denominated in dollars, currently hold assets totalling a billion dollars. All five funds are almost entirely dedicated to the US market.

Though the funds generally share a diversified investment policy, investing in all segments of the US economy, the most significant exposure is to the financial sector. Two of the funds have a policy of exploiting short term thinking and irrational investor behaviour.

The funds are to be made available initially through Royal Skandia’s offshore bond for direct investment. Discussions are ongoing over whether to incorporate them into their life and pensions fund range.    

A spokesman told Wealthbriefing that the current climate meant that the company was unable to make predictions of the scale of investment expected to be received from the UK.

Skandia Investment Group manages assets totalling $120 billion spread across 100 mandates . As part of Skandia Worldwide, it is owned by Old Mutual.