The Skandia name is to disappear as the group rebrands as Old Mutual Wealth across all UK operations.
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Old Mutual Global Investors' Richard Buxton has highlighted a series of global shocks which could hit equity markets over the next few months as investors return from their seasonal breaks.
Quilter Cheviot, the UK's second-biggest independent wealth management group, has rejected a £600m bid from Old Mutual, according to a report.
UK equity managers say investors are starting to be rewarded by the mega-cap miner turnaround story, despite a mixed round of results from some of the mining giants in the last few weeks.
Last week, the S&P 500 soared past the 2,000 mark for the first time, surprising those who had expected a reversal of some of the 30% gain seen in 2013.
Old Mutual Wealth chief executive Paul Feeney has contacted clients to defend a decision to shut the Skandia Invesco Perpetual income funds, pointing to "truly exceptional circumstances" following Neil Woodford's departure.
Old Mutual Wealth's soon to be re-branded Skandia platform today reported profits had jumped 400% in the first half of 2014 to £10m, while assets in its recently-launched WealthSelect range hit £1bn.