Skandia drops IP High Income from WealthSelect as it secures 0.52% average AMC

Skandia has cut Invesco Perpetual High Income from its newly-unveiled 'WealthSelect' restricted proposition, a range which offers funds with an average AMC of 0.52%.

Launching later this month, the range comprises 42 funds managed by Aberdeen, Artemis, Blackrock, Fidelity, Henderson, Invesco Perpetual, JP Morgan, Newton, Schroders and Threadneedle, as well as a series of Old Mutual funds. It will also include a selection of passive funds. The group has secured super clean preferential pricing on the funds in the range, with asset managers likely anticipating increased flows as a result of their funds' inclusion. An average AMC of 0.52bps is fractionally lower than the 0.54bps Hargreaves Lansdown has secured for funds on its Wealth 150 Plus list: H...