Milestone for MyFolio fund range

Bambos Hambi, head of fund of funds management for Standard Life Investments, said the milestone comes just 16 months after it was launched in October 2010.

Mr Hambi said: “We always knew that the MyFolio fund range had something special to offer clients and advisers, but I am especially pleased that we have hit the £1bn threshold so soon. Even in such a volatile market, the funds are delivering on what they set out to do.”

The Myfolio funds are risk-based portfolios that offer clients a choice of active and index-based investment strategies across five risk levels.

MyFolio funds are available to invest in through Standard Life’s FundZone platform, international bond, and individual and group pensions.

Gemma Langlands, financial planner for County Durham-based Eldon Financial Planning, said: “The risk-based investment strategy of these funds is appealing to a wide range of investors. The spread of active, passive, and multi-manager funds means there is a solution that fits with several investment philosophies.

“It can work well where there is no ongoing service as the risk profile chosen at outset will be maintained. It is also a good way to achieve risk-based fund management on pots that are perhaps too small to justify paying a fee for regular professional review.”