The group plans to launch the range, which has been given the working title ‘Select’, halfway through next year. The 50 or so funds in the range will be managed as sub-advised retail mandates.
Managers that have made verbal agreement to run mandates in the range include Aberdeen, Blackrock, BNY Mellon, Fidelity, Henderson, JP Morgan, Schroders and Threadneedle.
The new fund range will cover all major asset classes and is being billed as “ideal” for financial advisers running their own centralised investment propositions such as asset allocated model portfolios.
Paul Feeney, chief executive of Old Mutual Wealth, which owns Skandia, said: "This is a very exciting line-up of high quality fund managers which will make this range of funds very attractive to all types of financial adviser post RDR.
“The funds will have very competitive charges, a clear example of how we are able to use our scale and market position to negotiate great deals for the advisers that work with us and their customers.”
Skandia added that M&G has been one of its key partners for several years but is unable to provide sub-advised retail mandate services.
However, M&G has been named a strategic partner and the two companies are looking for ways M&G can become part of the range at some future point.
