Top fund managers
The portfolios contain funds that are run by some of the best known fund managers in the market from – Aberdeen, Artemis, BlackRock, Fidelity, Henderson, Invesco Perpetual, JP Morgan, Newton, Old Mutual Global Investors, Schroders and Threadneedle. (See appendix 1 for full fund list).
Different investor risk levels
The portfolios are aligned to investor risk levels 3 to 10 on Skandia’s platform risk profiling scale (10 being highest risk), in order to meet a wide range of investor profiles.
Available through all retail products
The portfolios will be available through all investment products – ISA, pension, bond and a general investment account.
Highly competitive cost
Skandia is part of Old Mutual Wealth which manages £76 billion in customer investments. Through its size and buying power Skandia has been able to negotiate great rates with their fund manager partners. The average charge (AMC) of the funds within Skandia’s WealthSelect range is 0.52%.
There is no additional charge for the portfolio management – investors simply pay the fund costs and Skandia’s normal platform charge. This gives investors a discretionary investment service without incurring the additional costs of a discretionary fund manager, making the solution available to those who previously have been unable to afford this type of package.
Skandia will also provide easy to understand specific portfolio reports on a quarterly basis that show portfolio performance, volatility, asset allocation, sector breakdown, country breakdown and detailed information about each fund in the portfolio.
The Skandia WealthSelect range is available via a financial adviser.
Paul Feeney, chief executive of Old Mutual Wealth, comments:
“Why should wealth management be the preserve of the elite? Why can’t every hard working person in Britain have their own investment portfolio? That is what we have set out to do. We have replaced the china tea pots, Mayfair offices and morning suits with simply designed world class fund management at a price people can afford.”