Standard Life Investments has added to its MyFolio fund offering with two income ranges: multi-manager income and managed income.
Money Marketing revealed that the firm was considering launching an income version of the MyFolio range.
The addition of the income ranges will see 10 new risk-rated funds added to the MyFolio offering under the two new brands.
The multi-manager income funds will be selected from funds across the whole of the market while the managed income funds will come from Standard Life Investments’ range of funds.
Standard Life Investments head of fund of funds management Bambos Hambi says: “It seems an entirely natural progression for us now to offer income seeking investors the opportunity to invest in funds adopting a similar risk-based approach but with a strong emphasis on the level of yield.
“The new MyFolio Income range of funds has been structured to deliver a higher yield as a result of adopting a slightly different asset allocation stance and by investing in underlying funds that themselves have a higher yield expectation.”
The MyFolio income funds will be available through direct investment, Standard Life platforms and tax wrappers and selected third party platforms.
The annual management charge for the MyFolio Income range will be set at 1.15 per cent, while the MyFolio multi manager income range will have an AMC of 1.4 per cent.