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24/02/2014

Investment business Skandia, part of Old Mutual Wealth, today announces the launch of a new range of managed investment portfolios, called WealthSelect, which give investors access to top fund managers in the market at an average fund charge of 0.52%.

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.

Superior reporting

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.”

Appendix 1

For more information contact

Amelie ShepherdOld Mutual Wealth02380 916 09107834 499 596
Tim Skelton-SmithOld Mutual Wealth02380 916 99807824 145 076

Notes to editors:

About Quilter plc:

Quilter plc is a leading wealth management business in the UK and internationally, helping to create prosperity for the generations of today and tomorrow.

Quilter plc oversees £116.5 billion in customer investments (as at 30 June 2018).

It has an adviser and customer offering spanning: financial advice; investment platforms; multi-asset investment solutions and discretionary fund management.

The business is comprised of two segments: Wealth Platforms and Advice and Wealth Management.

Wealth Platforms includes the Old Mutual Wealth UK Platform; Old Mutual International, including AAM Advisory in Singapore; and the Old Mutual Wealth Heritage life assurance business.

Advice and Wealth Management encompasses the financial planning network, Intrinsic; Quilter Private Client Advisers; discretionary fund management business, Quilter Cheviot; and Quilter Investors, the Multi-asset investment solutions business.

The Quilter plc businesses are being re-branded to Quilter over a period of approximately two years:

• The Multi-asset business is now Quilter Investors

• Intrinsic to Quilter Financial Planning

• The private client advisers business is now Quilter Private Client Advisers

• The UK Platform to Quilter Wealth Solutions

• The International business to Quilter International

• The Heritage life assurance business to Quilter Life Assurance

• Quilter Cheviot will retain its name

This press release is for journalists only and should not be relied upon by financial advisers or customers.

Please remember that past performance is not a guide to future performance. The value of investments and the income from them can go down as well as up and investors may not get back any of the amount originally invested. Exchange rate changes may cause the value of overseas investments to rise or fall.

This communication is issued by Quilter plc.  Registered office: Millennium Bridge House, 2 Lambeth Hill, London EC4V 4AJ, United Kingdom. Registered number: 6404270.  Registered in England.