Skandia has announced it is to launch 23 new sub-advised funds from the ten external fund groups it recently signed up as partners for its new focused fund range. The new range, provisionally called 'Select', will replicate the investment strategies used by funds that advisers already use heavily in their client portfolios.
Some 21 of the 23 strategies being replicated have been awarded OBSR ratings, including 13 rated Gold, and 20 have been rated by Rayner Spencer Mills.
The underlying external funds have a combined figure of £51bn in assets under management.
The first four firms to receive regulatory approval are Old Mutual Henderson European Growth Fund, managed by Richard Pease and Simon Rowe, Old Mutual Schroder Tokyo Fund, managed by Andrew Rose, Old Mutual Schroder US Mid-Cap Fund, managed by Jenny Jones and Old Mutual Threadneedle American Select Fund, managed by Cormac Weldon.
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Other funds awaiting regulatory approval come from firms such as Aberdeen Asset Management, Blackrock, Invesco Perpetual, JP Morgan and Fidelity.
James Millard, director of investments at Old Mutual Wealth, said: "The new researched fund range and managed portfolio service are exciting extensions to the leading investment solutions Skandia already offers to advisers and their clients.
"We are assembling an extremely high quality line up of funds across all the main asset classes, providing access to some of the most talented fund managers in the market.
"Our objective is to offer a desirable proposition at a very competitive price, making it a great choice for advisers whether they build portfolios for their clients in-house or wish to utilise our new managed portfolio service."
Skandia is currently finalizing the full range, name, pricing structure and platform tools for the proposition before launching it later this year.

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