MultiFUNDS and Selestia merger will create best of both worlds

Skandia's MultiFUNDS business is to migrate onto the Selestia platform as part of cost savings brought about by Old Mutual's acquisition of Skandia. The integration of the two platforms is expected to be completed at some point next year although Brett Williams, chief executive of Skandia MultiFUNDS and Selestia, said both brands would be retained for the foreseeable future. "We will move the MultiFUNDS business onto the Selestia platform some time next year as it is going to take that length of time to build on to the platform and create scalability," he said. "We will take the best idea...