Old Mutual

BANK OF ENGLAND

Old Mutual Wealth CEO Paul Feeney has dispelled worries about the effects of re-registration on the group's Skandia platform after it made a £2m profit, arguing rivals are behind the curve when it comes to facilitating electronic transfers.

Skandia, one of the UK's largest platforms, has reported a £2m profit in 2012 following a surge in funds under management.

Skandia has announced the full list of funds which will make up its Select range, following months of negotiations with fund groups.

Old Mutual Global Investors' Stewart Cowley has predicted sterling could fall substantially from here versus the dollar as a result of the UK's credit rating downgrade.

BIG INTERVIEW

Old Mutual Global Investors (OMGI) has cut the charge on Christine Johnson's £452m Old Mutual Corporate Bond fund and renamed its UK-domiciled equity range.

Old Mutual Global Investors' (OMGI) Stewart Cowley believes the so called ‘great rotation' out of fixed income and into equities has as yet failed to occur.

THE BIG QUESTION

Paul Feeney has told Investment Week the terms negotiated on Skandia's soon-to-be-launched Select fund range will enable the group to offer the "best model portfolio service" to UK advisers and help them take power back from other distributors.