Neil Woodford has been handed a mandate on Skandia's WealthSelect range, likely in the region of hundreds of millions of pounds, with the platform also getting access to the manager's 65bps share class.
In the latest distribution deal agreed by Woodford Investment Management (WIM), the group has agreed to hand its Z share class - which carries an AMC of 0.65% - to the platform giant. It means users of Skandia's SelfSelect service can buy the CF Woodford Equity Income fund for the same price as they can on Hargreaves (albeit without the D2C giant's additional 5bps loyalty discount) and Standard Life, saving 10bps, from 20 June. The deal is a further blow for Cofunds in particular, the country's largest platform having failed to negotiate a discount for its users. Crucially, Skandia...
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