Skandia is bringing together the main protagonists in the fund supermarket war for the first time.
Fidelity and the four foun ders of rival supermarket Cofunds w
ill be available through Skandia's MultiFunds platform next month.
M&G is the last of the Cofunds' providers to be rec ruited to the Skandia fund range and is due to join on December 1. Skandia will be the only fund supermarket to include Gartmore, Threadneedle, Jupiter and M&G as well as Fidelity.
The six M&G funds to be added to the Skandia range are the managed growth fund, high-yield corporate bond, British opportunities, global technology, Innovator and European smaller companies funds. Skandia offers over 220 unit trusts from 29 providers.
Investment brand man ager Phil Morse says: “We only link to new groups which we know will add value to our business and to those of our supporting IFAs. M&G fits well with our business because it understands what we want to achieve in the IFA market – it complements our investment strategy.”
Fidelity associate director UK wholesale marketing David Cowdell says he is happy to see the company alongside the Cofunds' consortium. He says: “We have never ruled out joining Cofunds but they do not have a product at the moment. We would like them to join us. The more supermarkets there are with greater choice, the better for IFAs.”