Skandia reassures on OMGI pricing after Standard Life deal

Platform giant Skandia has said funds from its sister company Old Mutual Global Investors (OMGI) will be the same price as that secured by Standard Life.

Standard Life has announced today that OMGI had become the eighth company to agree reduced prices for its fund range on the platform meaning advisers would be able to buy funds run by Richard Buxton and Stewart Cowley more cheaply than on competitor platforms.

Standard Life confirmed that OMGI was set to offer its entire fund range at a price reflecting the discounts previously given through rebates.

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But a Skandia spokesman said the same prices for the OMGI funds were already available on its platform through the use of unit rebates, which involves passing some of the annual management charge back to the client.

Standard Life has not confirmed when the cut-price shares will be available or how big the discount is.