Skandia takes Spectrum funds to wider IFA market

Skandia Investment Group (SIG) is opening its Spectrum range of risk-rated funds to Distribution Technology users after signing a deal with the IFA back office provider, and is looking to place the funds on other platforms.

The six Spectrum funds, launched in 2008, were previously linked only to the Skandia Investment Solutions (SIS) platform risk-profiling tool.

Distribution Technology (DT) has risk-mapped the funds to its Dynamic Planner tool, allowing the 29,000 advisers that use the software to match their clients’ risk profiles to SIG’s funds.

SIG’s chief sales and marketing officer Rob Williams (pictured) said the move could boost the funds’ £550 million under management.

‘With an increasing number of enquiries – particularly from other platforms and key national and network firms – using Distribution Technology’s Dynamic Planner was the obvious next step,’ he added.

Cofunds is one of DT’s clients, and Williams said Skandia was talking to the platform about allowing the Spectrum funds on to it.

‘There is no current agreement to put the funds directly on Cofunds but we are talking to Cofunds and other providers about getting the funds to sit directly on their platforms,’ he said.

The Spectrum funds invest in both retail fund of funds and segregated mandates and are automatically rebalanced.