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Skandia unveils WealthSelect fund prices

Skandia has unveiled the list of prices on its WealthSelect proposition with an average annual management charge of 52 basis points.

The discounted fund range represents a significant strategy move for Skandia, which is part of Old Mutual Wealth, as it seeks to increase flows into its own investment products.

Advisers may choose whether to select individual funds or use a free managed portfolio service.

The funds will be managed on a sub-advised basis by 10 external fund managers and  Old Mutual Global Investors funds.

Skandia announced last month that it had completed the first set of negotiations with fund groups. 

The mandates went to Aberdeen, Artemis, BlackRock, BNY Mellon, Fidelity, Henderson, Invesco, JP Morgan Asset Management, Schroders and Threadneedle.

Most of the equity funds in the range are priced at 60bps. The range sees discounts on funds of up to 30bps compared to the clean wider market equivalent in some cases.

WealthSelect customers pay the Skandia platform charge as well as the fund AMCs.

A platform charge of 50bps is levied on assets up to £25,000. This is then tiered to 35bps for assets between £25,001 and £100,000 and 30bps for assets between £100,001 and £500,000.

Assets between £500,001 and £1m incur a 25bps fee while assets of over £1m are charged 15bps.

All platform fees are subject to a £100 minimum annual charge and the platform charge is subject to VAT if the firm’s managed portfolio service is used. 

Skerritts head of investments Andy Merricks says: “For investors without the resources to go for a full discretionary fund management service this may make sense. 

“There seems to be a big battle going on to build scalable solutions for those clients.”

Skandia WealthSelect fund prices

Funds

Price (%)

Market clean (%)

Aberdeen Asia Pacific

0.70

1.00

Artemis UK Special Situations

0.60

0.75

Artemis Income

0.65

0.75

BlackRock UK Special
Situations

0.60

0.75

BlackRock Gold & General

0.70

1.00

Newton Higher Income

0.60

0.75

Newton Global Higher Income

0.65

0.75

Fidelity Global Focus

0.60

0.75

Fidelity Strategic Bond

0.45

0.50

Fidelity MoneyBuilder Income

0.35

0.40

Henderson China Opportunities

0.60

0.75

Henderson European

0.60

0.75

Invesco Perpetual Asian

0.60

0.75

Invesco Perpetual Corporate Bond

0.45

0.50

JPM Emerging Markets

0.60

0.75

JPM Natural Resources

0.60

0.75

Schroder Tokyo

0.60

0.75

Schroder Mid Cap

0.60

0.75

Threadneedle High Yield Bond

0.50

0.60

Threadneedle Euro Select

0.60

0.75

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