Scottish Equitable is to extend the range of funds on its platform by adding 16 sector funds in phased periods between 31 August and the end of October 2005.
The first tranche, launched on 31 August will offer six funds - Fidelity European, Special Situations and Wealthbuilder funds, Gartmore Cautious Managed and US Opportunities funds, and INVESCO Perpetual's Income Fund.
Mark Pearson, head of investment marketing at Scottish Equitable, said: "This is a significant step for Scottish Equitable's range. Initially our funds were in the managed sectors (balance, cautious etc) because they had the largest cash flow, but going into sector funds offers us the opportunity to get links with new retail funds."
The addition of the 16 sector funds to the groups' platform will bring the number of funds available to 82 from 17 different fund managers.
Pearson adds: "Gartmore, Fidelity and INVESCO Perpetual were three of the six new fund houses with whom we previously had no links. However with £4.5bn in external funds, we would like to think we have a good reputation for driving assets and groups like these are keen to talk to us."
The remaining 10 funds, managed by groups such as Artemis, First State, JPMF, Lazard, UBS and Schroder, will be launched in further tranches during September and October. They will be available across Scottish Equitable's onshore and offshore bonds and pension products.
The 16 sector funds were selected in conjunction with Old Broad Street Research (OBSR). Pearson said: "OBSR was very much part of our decision making process. We identified funds we were looking for and they produced a series of candidates based on a variety of issues, including the strength of their process."
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