Skandia in discretionary range launch for advisers

The chief executive of Old Mutual Wealth said the range will comprise 42 single strategy funds, run by Old Mutual Global Investors.

More than half of the funds will be sub-advised by investment houses including BlackRock, Henderson, JP Morgan and Threadneedle.

The managed portfolio service will enable financial advisers to produce co-branded, client-specific portfolio reports on a quarterly basis.

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The reports will show portfolio performance, volatility, asset allocation, sector breakdown, country breakdown and details about each fund in the portfolio.

Mr Feeney added: “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.”

Adviser view

Mel Kenny, director of London-based Radcliffe & Newlands, said: “It’s getting very aggressive out there. The advent of clean share classes has clearly put the price of actively managed funds in a better light but advisers are less likely to be influenced by the availability of big name managers in making their recommendation compared with the direct to consumer market.”