Old Mutual Global Investors has recast its Skandia US All
Cap Value Fund as the Old Mutual US Dividend Fund following the merger of the
Skandia US Value Fund into the Skandia US All Cap Value Fund and a change to
the fund’s investment strategy.

The new investment approach seeks asset growth by concentrating
on holding large-cap US stocks which have dividend characteristics
and which appear to be undervalued relative to their market value, Old Mutual
Global Investors said in a statement.

Due to the restructure, the fund had assets under management
of about $210 million.  The fund is
managed by US
value fund manager Barrow, Hanley, Mewhinney & Strauss, an affiliate of the
Old Mutual Group.

Lead portfolio manager of the fund is Ray Nixon. He joined
the firm in 1994 from Smith Barney, where he was a member of the investment policy
committee. He is supported by assistant portfolio managers Lewis Ropp and Brian
Quinn.