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Skandia gets supermart deal from Framlington

Skandia has sealed the exclusive supermarket rights for the launch of Framlington&#39s new biotech fund in a bid to keep itself at the fore of the competitive IFA distribution arena.

The deal means that Skandia will be the only fund supermarket to offer the new product, which launches on Monday, until the end of December. It will also have the exclusive rights to link to the fund on the life and pension side until the end of the current tax year.

The move comes as Skandia gears up for the launch of its investment hypermarket, My Multi-Manager, on November 23, which will see its life and pension products available online for the first time. Skandia claims the new platform will be the first to offer IFAs the ability to view all investments within their client portfolios in one place – from Isas and Peps to pensions and onshore bonds.

The new platform will enable IFAs to enact bulk switching transactions across multiple client portfolios from early in the new year. IFAs can register for the new service from November 1.

The developments reinforce Skandia&#39s intentions to be a leader in the IFA distribution market and propel them ahead of rival Old Mutual&#39s newly launched Selestia platform.

Skandia marketing and technical manager Colin Jelley says: “The key point is that all IFAs can use this service in any way that suits their own business. They can come at it from a straight product perspective and create multi-manager pensions or bonds for example or they can focus on constructing tailored investment portfolios for clients and then shelter different parts within an appropriate tax wrapper.”


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