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Skandia debuts on Cofunds with selection of 15 funds

Skandia Investment Management is making 15 of its funds available to advisers through Cofunds.

Its seven asset allocator funds, five actively managed funds, two property funds and ethical fund have been added to the platform as a result of the deal, which follows its agreements with FundsNetwork and Lifetime’s wrap platform, the bigger picture, at the end of last year.

Skandia IM also has distribution deals in place with a number of networks includ- ing Bates, Bankhall, Millfield, Sesame and SimplyBiz.

The firm has amassed 3.7bn under management since launching in 2003. It introduced its asset allocator range last April and recently started a global prop- erty securities fund managed by LaSalle and a UK bricks and mortar property fund.

Chief executive Jamie MacLeod says: “With 6,500 advisers using the platform and over 6.1bn of funds under management, Cofunds will be a highly effective distribution route for us.”

Cofunds marketing and product development director Mark Jones says: “We are delighted that Skandia IM is joining our platform. Clearly, there is increasing demand for multi-manager funds in general and Skandia is now a leading competitor in this market.”


BIA axes mortgage arm

Berkeley Independent Advisers is ditching its mortgage arm, Professional Mortgage Network, after struggling to attract brokers. It set up PMN last July in an agreement which saw PMN Limited merged into BIA and PMNL head Dale Knight join the company as Berkeley Berry Birch head of mortgages. Knight is leaving the company and PMN will […]

‘NPSS investment risk would fall on staff in private sector’

The Association of Consult- ing Actuaries says implemen-ting Lord Turner’s national pension savings scheme would mean that private-sector workers would face all the investment risk in their pensions. It says there should be more incentives to encourage emp-loyers to offer good low-cost schemes that share risks bet-ween employers and employees. It wants these incentives to […]

Lifetime accuses platforms of trying to lock in advisers

Lifetime is allowing IFAs to move funds to other plat- forms free of charge and has slammed rivals which try to lock in advisers by levying exit penalties. The wrap provider says it is taking a stand against competitors which charge exit penalties to re-register fund holdings off their platforms or do not have procedures […]

Hutton backs 0.3% target as it rules out ‘high-cost advice’

Work and Pensions Secretary John Hutton has endorsed Adair Turner’s vision for a 0.3 per cent charge on the nat- ional pension savings scheme and the removal of advice. Speaking at the Work Foundation pensions conference, Hutton claimed that the 0.3 per cent figure was a realistic and sustainable target as it rules out “high-cost” […]


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