Skandia drops Woodford and Weldon products from WealthSelect

Funds initially slated to be part of Skandia’s WealthSelect fund range have been shelved after Invesco Perpetual’s Neil Woodford and Threadneedle’s Cormac Weldon announced their departures.

A third, Artemis Strategic Bond, has also been dropped from the initial list published in February 2013.

Skandia has instead added the Henderson Property fund and Ian Spreadbury’s £3bn Fidelity MoneyBuilder Income fund to the range.

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The £13.6bn Invesco Perpetual High Income fund was previously named on Skandia’s WealthSelect list last year but was removed following the news of Mr Woodford’s departure from Invesco Perpetual in October. He is due to leave the company in April, with the High Income fund passing to Mark Barnett.

Threadneedle’s star US equities manager Cormac Weldon is also set to move to Artemis later this year, which resulted in the removal of his Threadneedle American Select fund from the list.