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Friday, September 08, 2000

Subadvisor Switch

Reported by Sean Hanna, Editor in Chief

AMERICAN Skandia Marketing is substituting value specialists GAMCO Investors, a subsidiary of Gabelli Asset Management Company, for T. Rowe Price Associates as sub-advisor of the ASAF T. Rowe Price Small Company Value Fund. The firm also announced that it is expanding the line-up of mutual funds in its American Skandia Advisor Funds by five.

The new funds are: ASAF Gabelli All Cap Value Fund, ASAF Janus Mid-Cap Growth Fund, ASAF Alger All-Cap Growth Fund, ASAF INVESCO Technology Fund, ASAF Rydex Managed OTC Fund.

The new lineup of funds also marks the first two special Equity mutual funds offered through ASAF, said the insurer. The American Skandia Advisor Funds family now includes 23 funds and had $1 billion in sales for the second quarter of 2000 - a 19 percent increase over the same period in 1999.

"We recognize that our clients want even greater choice," said Timothy Cronin, vice president/director of investments & research at American Skandia Marketing. "These additions will provide the flexibility of a multi-manager fund family with leading fund managers in all asset classes - not just traditional core investment options such as large cap growth. This will allow investors to create optimized portfolios for their clients."  

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