Skandia Investment Group (SIG) has announced plans to launch five new US funds in the UK, subject to approval from the Financial Services Authority (FSA).

SIG announced its intention to launch three US funds earlier this year and now plans to add two more specialist funds to provide investors with a comprehensive US funds range at a time when there are likely to be significant investment opportunities in that market.

The funds are operated by Skandia Global Funds, SIG’s Dublin-based company, and already have assets totalling US$800 million.

The new funds are Skandia US All Cap Value, Skandia US Capital Growth, Skandia Large Cap Value, Skandia US Value and the Skandia US Large Cap Growth.

James Millard, chief investment officer for Skandia Investment Group, says, ‘Although the US accounts for such a significant part of the global economy there are still very few high-calibre managers available for investors in the UK. The managers of these five funds are from the cream of US fund management industry, making these funds a great addition for investors looking to access the US market.’

If approved, the funds will be available initially for direct investment and via Royal Skandia’s offshore bond. All five funds are due to launch into the UK on 22 October 2008.