Skandia is sticking to its plan to maintain rebates on as many funds as possible following the roll-out of its new unbundled share class, arguing the majority of investors will be disadvantaged should they be abolished altogether.
Cofunds has announced plans to offer 3,000 clean fee share classes by July, up from 2,700 now, while Fidelity FundsNetwork's aim by June is only a third of that level at 1,000, Portfolio Adviser can reveal.
The initial reaction has been overwhelmingly positive to the Financial Conduct Authority’s long-awaited platform paper was published this morning which has banned cash rebates greater than £1 for both advised and non-advised platform business.
Old Mutual has restructured a number of its funds, and has rebranded the next set of Dublin-domiciled Skandia Global Funds, effective 19 April.
There was a 268% increase in clean fund sales in March as investors sought to avoid new fund charges and make last minute ISA investments, according to TD Direct Investing.
The number of platform providers is expected to shrink by two-thirds once the terms of the FCA's platform paper are revealed at the end of this month or early next.
Standard Life and Skandia may change their rebate models following the announcement by HMRC on Monday that platform rebates will be subject to income tax.
According to an analysis of where fund groups see various equity indices on a 12-month forward-looking basis, Japan right now is their favoured allocation but no, it is not different this time.
New research from Skandia shows three out of four advisers are either chartered, studying towards it or thinking about qualifying in the near future, a drop from the proportion who said the same in September last year.
Colin Jelley is returning to Skandia to be head of wealth planning.
Skandia is to launch a range of 23 new sub-advised funds for its new focused fund range from the ten external fund groups it recently signed up, the firm has announced.
Old Mutual has announced changes to its products, with further changes to its Skandia Investment Group range scheduled for a later date.
