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One supermarket could check out

Old Mutual would be unlikely to keep two fund supermarkets if it buys Skandia, says Financial Technology Research Centre director Ian McKenna.

Skandia’s platform is the biggest of the two, with around 5bn in assets compared with 1bn for Old Mutual’s Selestia.

McKenna believes that Skandia’s Multifunds and Selestia each have their strengths but neither is a perfect solution so one platform could be kept with the best elements of the other bolted on.

He says Skandia has the stronger and longer-standing IFA brand of the two and was a pioneer in e-commerce but Selestia has been catching up. One plus for an expanded group would be the ability to cut Skandia’s IT costs by outsourcing to Old Mutual in South Africa.


Schroders Head of Investment to Leave

Schroders head of investment Richard Horlick has decided to step down from the board as of May 25th, and will leave the company later this year. Former Schroders group chief investment officer and vice chairman of State Street Global Advisors Alan Brown will join the board and assume Horlicks responsibilities on July 5, 2005. Brown […]

Independent view – Nicholas Conyers

Any discussion between those born in Yorkshire or Scotland will include a lot of good banter. Typically, both accuse the other of, shall we say, being similar in their outlook towards their personal finances.


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