Eight groups snapped up for Skandia's new fund range

Skandia has snapped up eight groups to a new sub-advised fund range to be launched next year.

The new range will be made available on Skandia’s Solutions platform and has been designed to be low cost.

Aberdeen, BlackRock, BNY Mellon, Fidelity, Henderson, JP Morgan, Schroders and Threadneedle have all verbally agreed to join the new range, which has the working title ‘Select’. Old Mutual Global Investors will also be involved.

Paul Feeney, chief executive for Old Mutual Wealth, which comprises Skandia and Old Mutual Global Investors, said the line up of fund managers should make the proposition attractive to all types of advisers after the retail distribution review (RDR).

Feeney (pictured) added: ‘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.’

One group which won’t be featuring in the new range is M&G as it is unable to provide sub-advised retail mandate services. Skandia has said it will be working together with M&G to find a way for it to join the new range.

The funds will be run as sub-advised retail mandates and Skandia intends the range of approximately 50 funds to be cost competitive, covering all major asset classes.