With an average annual management charge of 0.52% on the single strategy funds and no additional charges for the portfolio management service run by John Ventre and his team, Skandia believes this, alongside its risk and income-targeted multi-asset Spectrum and Generation ranges is now the most comprehensive portfolio creation solution in the market.
The fund range will include 42 single strategy funds run by Old Mutual Global Investors, part of Old Mutual Wealth, with over half of them sub-advised by 10 underlying fund management groups.
In addition, three passive products have been added to the range, the Old Mutual Gilt, UK Index and World Index funds.
The managed portfolios will sit in a Skandia platform risk profile category between 3 and 10 and will be made available through all products on the platform – ISA, pension, bond and unwrapped collectives.
The service will enable advisers to produce co-branded reports for their clients on a quarterly basis, showing performance and comprehensive information about the underlying funds in the portfolio.
Alternatively, advisers can choose to manage their own portfolios using the WealthSelect range and not use Skandia’s service.
Paul Feeney, Old Mutual Wealth chief executive said: “Our aim is to continually increase the value we offer to financial advisers and their clients who use our platform as we grow into a fully integrated investment business.
“The RDR has increased adviser demand for high quality, high value, portfolio management services and we are leading the response. Through WealthSelect we give advisers access to the best brands in the market, with easy to use regular reporting and strong performance through active portfolio management – all at a market-leading price. We believe it will enable advisers to offer a compelling investment solution to suit a wide range of their clients’ needs.”