Bringing you live news and features since 2006 

Skandia keeps Invesco Perpetual funds open

RELATED TOPICS​

Skandia has decided to keep open the Skandia Invesco Perpetual Income and High Income funds on its Skandia Life range.

The provider recently said it intended to close the funds, but since then financial advisers have said they want to remain invested in the Invesco Perpetual funds and asked that the funds remain open.
 
Skandia says it is now confident that the TERs of the funds are stable and, furthermore, has been able to reduce the TERs of the Skandia Invesco Perpetual Income and High Income funds to 1.2 per cent (from their current 1.3 per cent) and cap them at that level.
 
The reduction and cap on the TERs of the Skandia Invesco Perpetual funds applies to the Skandia Life funds only, not the underlying Invesco Perpetual funds.
 
The OMW Old Mutual Woodford Income Fund will still be added to the Skandia Life range at the price originally agreed (1.1 per cent TER), giving financial advisers the choice of whether to keep their clients invested in the Invesco Perpetual funds or move to the new Woodford fund. The new fund will open in October.
 
Woodford Investment Management remains a key fund group partner of Skandia’s.
 
Paul Feeney (pictured), chief executive of Old Mutual Wealth, says: “What can I say, but ‘we listened’? What we heard from advisers and their customers was that they welcomed the addition of the Woodford Income fund to our life range and the price we have negotiated for them, but they wanted the Invesco Perpetual funds to remain open.  We have acted to keep those funds open at a reduced cost.  With the continued support of Woodford Investment Management, we have been able to add the new Woodford fund to the range at the original price.  This gives advisers and their customers’ choice of where their money should be invested.”

Latest News

Figment Europe, a provider of institutional staking infrastructure, writes that it is solidifying its presence in the heart of Europe’s..
Saving and investing app, Moneybox, has doubled the number of ETFs available on the platform, in the light of ‘growing..
Global X ETFs has announced the appointment of Ryan O'Connor as its Chief Executive Officer effective as of April 8, 2024. ..
Value-driven structured credit investing firm, Angel Oak Capital Advisors, LLC, has announced the completed conversions of two of its mutual..

Related Articles

Sal Esposito, Zacks Investment Management
Zacks Investment Management started doing investment research in 1978 and in 1992 started its investment management arm, initially with SMAs...
Jeremy Senderowicz, Vedder Price
Jeremy Senderowicz, a member of the Investment Services Group at law firm Vedder Price, has witnessed a steady upswing in...
Graham MacKenzie, Toronto Stock Exchange
The evolution of ETFs has been a multi-decade experience for Toronto Stock Exchange says Graham MacKenzie, managing director, Exchange Traded...
Frank Koudelka, State Street Global Services
ETF data provider and ETF Express data partner, Trackinsight, has published its Global ETF Survey 2024 Report: ‘50+ Charts on...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by