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ScotMut targeting retail investors with multi-manager service

Scottish Mutual is the latest life office aiming to bring institutional fund management skills to retail investors with a new multi-manager service called Investment Intelligence.

The Abbey National-owned company is tying with UK multi-manager Attica Asset Management to offer IFAs a service giving access to six multi-manager funds covering equities in the UK, Europe, the US, Far East and Japan as well as a UK bond fund.
As part of the offering, private client investment manager Raymond James Killik has developed an investment tool allowing IFAs to select a suitable investment strategy for clients based on a combination of the Attica funds.
The tool lets clients select the time horizon of their investment, their risk profile and whether they want capital growth or income.
The partnership follows recent multi-manager deals between Scottish Widows and Frank Russell Company and Scottish Life and Escher.
Abbey National director (sales and marketing) Amb-rose McGinn says: “Until now, most intermediaries have not been able to offer institutional fund management to the retail investor.
“This alliance will bring an innovative proposition to the retail market, providing a high-performance multi-manager service which identifies the top managers on a best of breed basis.”
Gee & Company managing director Jennifer Storrow says: “Now that with-profits is coming under fire from people like Sandler, providers have no choice but to give a wider choice. The multi-manager approach will spread because life companies are not going to be happy simply offering their own funds.”

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