Old Mutual to launch range of drawdown products

Branded 'Generation', the funds will be aimed primarily at the drawdown market, but will also compete against annuity providers. "We don't have anything against annuities, but at this stage in the cycle with rates where they are, we believe this will be a far more flexible product than locking in to an annuity," said Old Mutual Wealth Management CEO Paul Feeney (pictured). "[The products] will be linked to all of our wrappers, in particular our pension wrapper." Speaking at the Skandia Trailblazer conference yesterday, CEO Peter Mann admitted the firm needed to do more for at-retir...