Confidence in the global economy fell for the first time in 12 months among advisers located worldwide, according to the latest quarterly survey from Skandia International, part of Old Mutual Wealth.
A recent study of over 5,000 consumers across four continents has revealed the amount of net annual income needed for people to feel happy is an imposing $161,810 – 15 times the global average for an individual’s income.
The International Adviser Confidence Barometer conducted by Skandia International, the offshore business of Old Mutual Wealth Management, has hit a 12 month low of just 4.9 out of 10, following a drop in confidence through the second quarter.
Old Mutual Wealth Management has appointed Jeremy Charles chief operating officer of the business that currently includes the Skandia UK, Skandia International, Skandia Investment Group and Old Mutual Asset Managers (UK) brands.
Skandia International Wealth Service has selected Singapore as the first market where it will offer the ‘Wealth Interactive’ product.
Skandia International, the offshore business of Old Mutual, will work with Qualifying Recognised Overseas Pension Schemes (QROPS) providers to offer simplified QROPS arrangements across multiple jurisdictions.
Skandia International, the offshore business of Old Mutual says it is working with qualified recognised overseas pension schemes providers to offer simplified QROPS arrangements across multiple jurisdictions.
Royal Skandia has launched a risk-targeted fund with downside protection, available to retail investors through Royal Skandia’s offshore Portfolio Bond range.
Skandia International, the offshore business of Old Mutual Wealth Management, is responding to the UK’s Retail Distribution Review by investing £21m to roll out Wealth Interactive.
UK-based asset manager Schroders has launched ISF European Total Return, one of the latest vehicles set up to tap into potentially lucrative European equity markets.
Eurozone equities could be set for a bumper year with Paris-based Edmond de Rothschild Asset Management backing the asset class with the launch of EdR Euro Convictions.
The use of safe-haven assets such as cash and global fixed interest through 2011 suggests that there is a ‘wall of money’ waiting to switch into equity funds as confidence returns, says Skandia International.