SKANDIA to Establish UK Internet Funds Supermarket

TRANSACTION SYSTEMS

LONDON--Skandia is to set up its own fund supermarket on the Internet for UK investors. Skandia, the UK subisidiary of Sweden’s largest insurance group, Skandia Insurance Co., has linked up with Assureweb, and is scheduled to go live with the service in early August.

In addition to Skandia’s own fund products like the tax-exempt Individual Savings Accounts (ISA), the service will also provide online access to other fund companies’ products. About 160 funds from 20 fund management companies

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