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Skandia in talks with Woodford venture for WealthSelect

Skandia has held early discussions with Woodford Investment Management about the possibility of joining its WealthSelect proposition.

The firm launched the discounted fund range in February with 20 actively managed mandates from external managers included.

Skandia says it has held discussions over the inclusion of Woodford’s new venture as a new mandate within the range.

Neil Woodford is set to leave Invesco Perpetual later this month to launch Woodford Investment Management, backed by Oakley Capital.

The manager’s income and high income funds at Invesco were originally part of the WealthSelect plans but were dropped following the announcement of his departure. 

Old Mutual Wealth head of investment solutions Dean Bowden says: “It is a moving feast. We build the range to work as a portfolio. 

“We will make changes where there are gaps and we keep in mind a group of managers that could replace another if we made changes. There is no conversation to add anyone imminently.”

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