American Skandia Enhances Investment Platform Strategies -- Deutsche Asset Management to Manage Additional Portfolios --.Business Editors SHELTON Shelton, city (1990 pop. 35,418), Fairfield co., SW Conn., on the Housatonic River opposite Derby; settled 1697, set off from Stratford 1789, inc. as a city 1915. Metal products, furniture, and electronic equipment are among the city's manufactures. , Conn.--(BUSINESS WIRE)--May 1, 2002 American American, river, 30 mi (48 km) long, rising in N central Calif. in the Sierra Nevada and flowing SW into the Sacramento River at Sacramento. The discovery of gold at Sutter's Mill (see Sutter, John Augustus) along the river in 1848 led to the California gold rush of Skandia Investment Services, Incorporated ("American Skandia") has announced a number of sub-advisory changes and consolidations including an expanded offering of Deutsche Asset Management (DeAM DeAM Deutsche Asset Management (asset management division of Deutsche Bank) ) portfolios on both American Skandia Trust and American Skandia Advisor Fund platforms. The changes highlight American Skandia's approach of actively managing the portfolio managers. "We took the opportunity of flat financial markets to revise our platforms in order to provide strategies that appeal to a broad array of investors," said Michael Murray Michael Murray may refer to several people:
The expanded Deutsche Asset Management offering on both the AST (AST Computer, Irvine, CA) A PC manufacturer founded in 1980 by Albert Wong, Safi Quershey and Tom Yuen (A, S and T). It offered a complete line of PCs that sold through its dealer channel. and ASAF ASAF Assistant Secretary of the Air Force ASAF All Sales Are Final ASAF Allied Sportsmen's Associations of Florida, Inc. ASAF Amador Schools Arts Foundation (Amador County, CA) platforms will bring additional Managed Alpha(TM) investment options to the American Skandia line-up. This investment approach combines quantitative and active investment strategies to offer a benchmark index risk while seeking to outperform Outperform An analyst recommendation meaning a stock is expected to do slightly better than the market return. Notes: Exact definitions vary by brokerage, but in general this rating is better than neutral and worse than buy or strong buy. the benchmark index. American Skandia now provides access to investment options ranging from enhanced index strategies, to the Managed Alpha(TM) portfolios, to the pure active management portfolios of their traditional offering. Deutsche Asset Management will manage six additional portfolios in the AST variable insurance investment platform, bringing the total number of DeAM portfolios in this platform to seven. These changes will be implemented through a combination of new portfolios and sub-advisor changes to existing portfolios. New portfolios: --------------- -- AST Kinetics Internet Portfolio consolidated into the AST Gabelli All-Cap Value Portfolio. -- AST Scudder Japan Portfolio consolidated into the AST American Century International Growth Portfolio. Sub-advisor replacements to existing portfolios: ------------------------------------------------ -- AST Kinetics Internet Portfolio consolidated into the AST Gabelli All-Cap Value Portfolio. -- AST Scudder Japan Portfolio consolidated into the AST American Century International Growth Portfolio. DeAM will manage three additional funds in the ASAF Mutual Fund platform, bringing the total number of DeAM funds in this platform to four, including the ASAF DeAM Small-Cap Small-cap A stock with a small capitalization, meaning a total equity value of less than $500 million. small-cap 1. Of or relating to the common stock of a relatively small firm having little equity and few shares of common stock Growth Fund. These changes will be implemented through a combination of new funds and a sub-advisory change to existing fund. New funds: --------- -- AST Kinetics Internet Portfolio consolidated into the AST Gabelli All-Cap Value Portfolio. -- AST Scudder Japan Portfolio consolidated into the AST American Century International Growth Portfolio. Sub-advisor replacement to an existing fund: -------------------------------------------- -- ASAF DeAM International Equity Fund from ASAF Founders International Small-Cap Fund. Additional consolidations are being made based on expenses and the limited attractiveness of some asset classes. American Skandia portfolio consolidation: ----------------------------------------- -- AST Kinetics Internet Portfolio consolidated into the AST Gabelli All-Cap Value Portfolio. -- AST Scudder Japan Portfolio consolidated into the AST American Century International Growth Portfolio. In response to Third Party Investment Advisor Investment Advisor 1. A person making investment recommendations in return for a flat fee or percentage of assets managed, known as a commission. 2. For mutual fund companies, it is the individual who has the day-to-day responsibility of investing and monitoring the cash and market demand, American Skandia has created a more robust sector offering by adding 20 ProFund VP portfolios to its variable annuity Variable Annuity An insurance contract in which, at the end of the accumulation stage, the insurance company guarantees a minimum payment. The remaining income payments can vary depending on the performance of the managed portfolio. products, bringing its total ProFund offerings to 34. Variable annuities Variable annuities Investment contracts whose issuer pays a periodic amount linked to the investment performance of an underlying portfolio. and variable life insurance are issued by American Skandia Life Assurance Corporation. Variable annuities, variable life insurance and mutual funds are distributed by American Skandia Marketing, Inc. Both companies are located at One Corporate Drive, Shelton, Connecticut Shelton is a city in Fairfield County, Connecticut, United States. History Origins The town was split off from Stratford in 1789, as Huntington (named for Samuel Huntington). 06484. Call 800/SKANDIA for a prospectus containing more complete information on charges, expenses and tax consequences. It should be read carefully before you invest or send money. Information about the company and its products can also be found on the company Web site at www.americanskandia.com. |
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