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Martin Currie set for big retail drive

Martin Currie has trebled its sales team as it lines up a major push into the retail market.

The Edinburgh fund firm has signed up to ratings agency Forsyth-OBSR in a bid to raise the profile of its product suite.

It has recruited senior sales staff from several retail-focused investment houses to bolster distribution.

Since joining from Investec five months ago, managing director of marketing, distribution and product management Andy Sowerby has separated the firm’s distribution channels, including nationals and networks, discretionary managers, fund of funds and life offices.

On the product front, Martin Currie is set to relaunch its UK equity income fund later in the year once a new manager is found. It will also convert its range to Ucits III.

Sowerby says: “We are very serious about the retail market and have been building our resources in that team.”

Hargreaves Lansdown head of research Mark Dampier says: “Martin Currie has always had a retail offering but has not had management that took it seriously for the last 10 years until Sowerby came on board.”


19% Sales rise for Skandia

Skandia has posted 19 per cent growth in sales in the first six months of this year with a business total of 301m. This brings its assets under management to a new high of 23bn. The company achieved 43 per cent growth last year.

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