Skandia Life have announced that they will be closing a number of Managed funds and switching the proceeds into Old Mutual funds (Skandia’s parent company), if we do not select an alternative before 27th February 2014. We were not given any warning of this and do not feel you should move into their suggested default funds. We are therefore going to write to all affected clients in the New Year with a recommended alternative.
The affected funds will be closed on 25th February 2014. The funds being closed are as follows:
Skandia BlackRock Managed
Skandia Henderson Managed
Skandia Henderson (former Gartmore) Managed
SKandia Henderson (former New Star) Managed
Skandia Old Mutual Newton Managed
Skandia Professional BlackRock Managed
Skandia Professional Henderson (former Gartmore) Managed
Skandia Professional Old Mutual Newton Managed
Please note that this does not affect any investments on the Skandia Investment Solutions platform.