Skandia is this month launching a distribution bond giving access to a range of third-party fund links. Investors can build a portfolio by mixing and matching the retail distribution funds of groups including Axa, Prudential, Norwich Union, New Star and DWS. To mark the launch, Skandia is offering 103 per cent allocation until April 6. The move comes as Skandia UK Group announces that its operating profit for the first nine months of 2003 rose to £82m from £67m in the same period last year. Its assets under management now stand at £14.5bn.