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Standard Life launches MyFolio risk-rated fund range
by Daniel Grote on Oct 04, 2010 at 11:07
Standard Life has launched its MyFolio risk-rated investment service based on three fund ranges investing in in-house, tracker and whole-of-market funds.
Each MyFolio range is composed of five risk-rated portfolios. The provider has will offer MyFolio Market funds, which invest in tracker funds; the MyFolio Multi-Manager funds, which invests in actively-managed funds across the market, and the Standard Life MyFolio funds, which invests in funds managed by Standard Life Investments.
Annual management charges for the funds range between 0.95% and 1.55% depending on wrapper choice for the multi-manager range, between 0.70% and 1.30% for the market funds and between 0.70% and 1.30% for the in-house Standard Life range.
Standard Life Investments will select the funds for each range. The provider has also set up a fund selection governance committee to oversee the funds, made up of Standard Life employees and independent members.
The committee will also oversee the provider's Quality and Choice guided architecture offering.
Standard Life head of investment proposition Iain Mcleod said the offerings would help advisers meet the requirements of the retail distribution review.
'Advisers told us they want to reduce the cost and risk associated with selecting and managing investments,' he said. 'They also want an easier process when choosing funds that match their clients' requirements and long term plans.'
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