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Skandia secures Woodford fund for 0.65%

Skandia secures Woodford fund for 0.65%

Skandia has secured Neil Woodford’s Equity Income fund at an ongoing fund charge of 0.65%.

The fund will be available through the platform’s SelfSelect open fund range and as a bespoke sub-advised mandate within its more concentrated WealthSelect researched fund range.

The news follows similar announcements from rival distributors with Standard Life also offering clients a 0.65% rate while Killik customers will pay 0.75%. Hargreaves Lansdown is ahead of the pack with a 0.6% charge, which has been reduced by Woodford Investment Management paying Hargreaves clients an annual loyalty of five basis points.

For Skandia clients, the fund will be available on SelfSelect from June 20 and through WealthSelect later in the year.

Dean Bowden, head of investment solutions at Skandia, said:We are committed to offering financial advisers and customers access to the very best fund managers at a highly competitive price.

‘Woodford Investment Management has a proven investment approach which will be in high demand from financial advisers so we are pleased to have secured a great price for them via our platform.’

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