Skandia

Skandia Investment Solutions, one of the UK's largest platforms, made a loss of £11m in 2011 as the cost of preparing for RDR impacted the business.

The Skandia label will disappear in the UK and a number of senior roles have been reshuffled as part of a major overhaul of the Old Mutual Wealth Management business.

The Skandia label could disappear in the UK as part of an overhaul by parent Old Mutual, which is rebranding its merged asset management businesses as Old Mutual Global Investors.

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Skandia has set out its unbundled charging structure, claiming it will result in a 0.37% platform charge for its typical customer.

Old Mutual Wealth Management is set to unveil its plans for RDR-compliant fund pricing on its platform, and is preparing to boost its offering in the risk-rated funds and DFM space with a revamp of its product range.

Fund selectors have revealed the difficulties in allocating to Asia and emerging markets as some of the most popular retail funds close their doors to new investors.

Old Mutual is preparing to cut 30 jobs as it merges Skandia Investment Group and Old Mutual Asset Managers into a single division.

Today's confirmation that cash rebates will be banned is a 'blow' to wrap platforms and presents a 'significant challenge' to their business models, fund supermarket Skandia has said.

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