Skandia to launch new fund range and discretionary portfolio management service
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06/02/2014

Skandia, part of Old Mutual Wealth, today announces details of the new range of funds and discretionary portfolio management service that it will launch later this month to complete its WealthSelect range of portfolio management solutions.

Skandia believes high quality portfolio management delivers significant value and that a range of solutions are essential to meet different investors’ needs. Skandia’s WealthSelect proposition offers financial advisers the most comprehensive range of portfolio management solutions in the market.  These currently include the existing multi-asset solutions Spectrum and Generation, which are risk and income targeted respectively. 

Building on this, WealthSelect will also offer financial advisers a new fully researched range of high quality funds and a discretionary managed portfolio service, all at a leading price.  The average AMC of the funds within the WealthSelect proposition is 0.52%, and there is no additional charge for the managed portfolio service.  This will enable financial advisers to offer a range of portfolio management solutions to their clients at very attractive prices.

New researched range of high quality funds

The new researched fund range will comprise 42 single strategy funds that are run by Old Mutual Global Investors, also part of Old Mutual Wealth.  Over half of these funds will be sub-advised by many of the UK’s best known investment houses – Aberdeen, Artemis, Blackrock, Fidelity, Henderson, Invesco Perpetual, JP Morgan, Newton, Schroders and Threadneedle.   

The range will also include a selection of passive funds which can be used to keep overall portfolio costs down if required.  See appendix 1 for the full list of all 55 funds that comprise WealthSelect.

New Discretionary managed portfolio service

The managed portfolio service will enable advisers to offer their clients a discretionary investment service without their clients incurring the additional costs of a discretionary fund manager. 

The managed portfolios will be aligned to client risk levels 3 to 10 on Skandia’s platform risk profiling scale (10 being highest risk), in order to meet a wide range of client profiles. The portfolios will be available through all products on the platform – ISA, pension, bond and unwrapped collectives and will be optimised to the products as appropriate.

The managed portfolio service will enable financial advisers to produce co-branded, client specific portfolio reports on a quarterly basis.  These reports will show portfolio performance – both cumulative and discrete – volatility, asset allocation, sector breakdown, country breakdown and detailed information about each fund in the portfolio.

The managed portfolio service is optional and advisers can choose to manage their own portfolios using the WealthSelect researched fund range if they prefer.

Paul Feeney, chief executive of Old Mutual Wealth, comments: Paul Feeney

“Our aim is to continually increase the value we offer to financial advisers and their clients who use our platform as we grow into a fully integrated investment business. The retail distribution review has increased adviser demand for high quality; high value portfolio management services and we are leading the response. Through WealthSelect we give advisers access to the best brands in the market, with easy to use regular reporting and strong performance through active portfolio management.  All at a market-leading price.  We believe it will enable advisers to offer a compelling investment solution to suit a wide range of their clients’ needs.”

Appendix 1 - WealthSelect fund list:

WealthSelect fund list

Notes to editors

The WealthSelect solutions will be branded Skandia until the Skandia brand is replaced with Old Mutual Wealth towards the end of 2014. The new proposition will launch towards the end of February and the individual fund prices and structure of the managed portfolios will be available then.

For more information contact

Sophie LentonOld Mutual Wealth02380 916 77007834 499 558sophie.lenton@omwealth.com

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; Old Mutual Wealth Private Client Advisers; discretionary fund management business, Quilter Cheviot; and 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

• Private Client Advisers to 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.