Architas, the multi-manager division of Axa, has said it will add three more passive funds of funds to its existing range.
The timescale for the launches is unconfirmed, but the aim is to deliver a larger range of funds to investors.
Architas currently has three passive multi manager funds, launched in November 2008, which carry a three, four and five risk rating respectively.
These are the cautious, balanced and adventurous multi-asset passive funds, whose asset allocation is determined by independent financial consultants Towers Perrin.
The ultimate aim is to hold six passive and six active funds that each correspond to one of Architas’s 17 risk bands.
Hans Georgeson, the managing director of Architas, has confirmed there are no corresponding plans to rationalise products.
However, he warns that any smaller or underperforming funds will come under scrutiny to decide whether it is in Architas’s best interests to support them.