Old Mutual Global Investors, the newly-formed business combining Skandia Investment Group and Old Mutual Asset Managers (UK), has rolled out its Generation Funds - a range of four multi-manager, multi-asset income funds.

The firm said the funds will be attractive to those investors who are seeking regular income from their investment with more clarity on how such income will impact the capital value of their investment. "They will be particularly relevant to people in pension income drawdown who want to control the rate at which they draw down funds from their retirement savings."

Managed by John Ventre, head of multi-manager, the funds will be marketed under the Skandia name until the business rebrand has been completed. They will, however, be available via the Skandia Investment Solutions platform - as well as other platforms and channels - in due course, the firm said.  

The funds will be denominated in sterling, with a minimum investment of £1,000 (about $1,600) and an annual management charge of 1.25 per cent. They will also be eligible for investment through all tax wrappers - including ISAs - via platforms.

"The Generation Funds represent a fully outsourced solution that could form a core component of many investors' financial plans, whether they are looking to generate an additional income stream, or are concerned about how they should draw an income in retirement and manage the scale of capital erosion," Ventre said.