Skandia delays Select range to add model portfolios

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Skandia has pushed back the launch of its Select fund proposition to add a suite of model portfolios in response to adviser demand.

The firm is working with 10 fund groups – Aberdeen, Artemis, BlackRock, BNY Mellon, Fidelity, Henderson, Invesco Perpetual, JP Morgan, Schroders and Threadneedle – on the range, which was due to launch in the autumn of 2013.

Select will offer access to 23 mandates from the 10 fund group as well as Old Mutual’s in-house portfolio. However, its launch has been delayed until the first quarter of 2014 as the firm seeks to create a range of managed portfolios using the sub-advised funds.

A Skandia spokesman says: “We have considerably expanded the scope of the Select proposition, most notably to include a full managed portfolio service for advisers.

“Our research shows that 44 per cent of advisers have expanded their use of managed portfolio services since the RDR came into effect and we believe the Select proposition will deliver significant value to these advisers.”