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Skandia diversifies from Mom

The development and recent launch of Skandia&#39s Investment Management arm is a response to other life offices targeting its traditional space of multi-manager investment offering, says the firm.

Managing director Nick Poyntz-Wright told delegates at the Money Marketing Live event in Manchester that the entry of other life offices and fund managers into the multi-manager arena has made the sector more competitive.

Skandia has added two new options to its hybrid manager of manager and fund of fund offering and launched a single-price charge structured pension this summer.

Poyntz-Wright said Skandia, which was a vocal opponent of stakeholder pensions when they were introduced two years ago, could launch a capped product if the charge cap was increased sufficiently.

But he warned that extending price capping to the Sandler suite would put pressure on life offices by creating a low benchmark for charges.

He said: “It is flattering that after 15 years plugging away at the multi-manager approach, life companies are copying us. If there is significant easing of the stakeholder price cap then we will look at doing a capped pension product.”

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