Skandia has unveiled its range of sub-advised mandates via its WealthSelect proposition, achieving some impressive fund prices in the process, but its structure raises new challenges for re-registration.
Skandia's restricted WealthSelect proposition features funds with an average AMC of 0.52%. This figure incorporates 42 externally managed funds as well as a number of portfolios from parent group Old Mutual. Let's get one thing clear first. Though we do not know overall charges yet, the deals for the funds themselves are cheap - fractionally undercutting even the average AMC on Hargreaves Lansdown's core range of 'favourite' funds. Skandia insists that the funds managed by Old Mutual Global Investors have been secured at the same AMC as external funds - so there is no suggestion of ch...
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