American Skandia gave Deutsche Asset Management an additional $745 million in new subadvisory mandates, said Michael Murray, chairman of American Skandias investment committee. Deutsche already manages two portfolios with a combined $600 million for AS.
American Skandia is adding Deutsches domestic large-cap growth, small-cap value and core bond "managed alpha strategies which combine quantitative and active management to the American Skandia Trust platform. Deutsche replaces three managers on the platform: Janus, which provided a domestic large-cap value strategy; Founders, international equity; and AIM, global balanced.
American Skandia also is adding domestic small-cap growth, large-cap growth and value equity strategies from Deutsche to its Advisor Fund platform. Deutsche replaces Founders, which managed an international small-cap equity portfolio for the platform.
Separately, American Skandia announced that it is merging the AST Kinetics Internet portfolio into the AST Gabelli All-Cap Value portfolio, and the AST Scudder Japan portfolio is being rolled into the AST American Century International Growth portfolio.