Skandia

Old Mutual's Paul Feeney has been handed wider responsibility at the group after being appointed CEO of the wealth management division.

PASSIVES

Skandia Investment Group's Rupert Watson, head of asset allocation, has outlined eight reasons why Greece should not be allowed to leave the euro, despite the increasing likelihood it is forced to exit.

The likelihood of a Greek exit from the eurozone this year is only around 25%, well below investment banks' consensus forecast of 50% to 70%, top commentators have said, with Germany set to prevent a ‘Grexit' before its own elections in 2013.

Equities are in the midst of a major global bull market, at a time when investors are significantly underinvested in the asset class, said Skandia Investment Group's Rupert Watson.

SOVEREIGN DEBT

Skandia Investment Group (SIG) has warned fund management groups which have integrated risk-rated tools into existing multi-asset propositions they are in danger of ‘misleading' investors.

Fund groups are scrambling to develop risk-rated propositions ahead of the RDR deadline at the end of this year, with major houses including Jupiter planning how to enter the space.

Skandia Investment Group(SIG) has handed a €34m mandate to BlackRock's Richard Plackett in its €345m European Best Ideas fund.

Old Mutual is unifying its two UK asset management businesses, Old Mutual Asset Managers UK (OMAM UK) and Skandia Investment Group (SIG), into a single business with the view to rebrand under one name.