Scot Amicable brand is axed

Prudential consolidation sees funds reduced from 28 to 23 following closures and mergers

The Scottish Amicable brand is to disappear in a reorganisation by Prudential that will see three funds axed and several merged. It will also involve taking in-house a number of funds run by external managers such as Merrill Lynch, Phillips & Drew and Schroders. Scottish Amicable was taken over by Prudential in a £2.87bn deal in 1997 that saw the mutual's policyholders paid an average of £1,400. The changes are part of a rebranding programme initially announced by Prudential in 2001. The group has been promising the rationalisation of the Prudential and Scottish Amicable unit trust range...