Aberdeen Standard Investments has teamed up with Skipton Building Society to provide portfolio solutions for customers of its £4bn investment offering.
The partnership will build on ASI’s existing £13.9bn MyFolio fund range, its multi-asset solutions for advisers, by adding five new index funds.
Bambos Hambi and James Millard run the 19-strong multi-manager strategies team which oversees the fund range.
The new index funds are a range of risk-targeted funds which allow advisers to select a fund aligned to their clients’ risk requirements.
ASI global head of distribution Campbell Fleming (pictured) says: “We are delighted that Skipton Building Society has chosen to adopt our new MyFolio Index range as a core part of its investment offering for retail investors.”
Skipton’s director of financial advice Matthew Leach says: “We’ve offered a financial advice service for over 30 years and have helped thousands of customers make plans for their future. I’m really pleased we now have ASI on board to help us drive this forward even more.”
The news comes after ASI announced last month that it plans to merge its £209m MyFolio Managed Income range with the larger £4.5bn MyFolio Managed range.
The proposal is subject to investor approval with the merger scheduled to happen at the start of May. ASI says it believes the merger will benefit investors by making the management of the portfolio more efficient over time due to similarities in investment objectives, risk profiles and total return expectations.