Skandia has delayed the launch of its Select fund proposition to add model portfolio functionality for a revised 2014 launch.
The Select panel consists of eight fund groups including Aberdeen, Blackrock, BNY Mellon, Fidelity, Henderson, JP Morgan, Schroders and Threadneedle who will run 50 funds as sub-advised retail mandates.
The range was due to launch later this year but has been pushed back until early 2014 as Skandia works on its model portfolio proposition consisting of portfolios chosen by Skandia made up of the Select funds.
A Skandia spokesman said: 'We have considerably expanded the scope of the Select proposition, most notably to include a full managed portfolio service for advisers.
'Our research shows that 44% of advisers have expanded their use of managed portfolio services since the retail distribution review came into effect and we believe the Select proposition will deliver significant value to these advisers. Given the expanded functionality of the proposition we expect launch to be early 2014.'
Skandia unveiled its fund manager partners for the Select range in November 2012 which also includes M&G as a strategic partner for the service as it is unable to provide a sub-advised retail mandate service. M&G and Skandia will work together on a solution that will enable the fund group to join the range in the future.