British money manager Schroders has paired with Standard & Poor's to develop a fund asset allocation product for investors. The new service will use fund research from S&P and Schroder asset allocation models to recommend investments to individuals.

Schroders will also lend its wholesale distribution network to the product. The product will be distributed everywhere except North America, according to the firms.

Sanford Bragg, executive managing director at Standard & Poor's added that the product was designed to meet the specific needs of fund of funds' distributors.

The service product will be offered as a turn-key subadvisory product to brokers, banks and other financial institutions. Those partners will be able to offer the product on either a private-label basis or under a combination of Schroders and/or Standard & Poor's brands.

"This service represents a strategic diversification of Schroders' business into a fast growing area of the savings market," explained Massimo Tosato, group managing director retail. "Most importantly, it will enable us to offer our clients a broader range of investment solutions."  

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