Schroder Investment Management and Standard & Poor's launched a new...

Schroder Investment Management and Standard & Poor’s launched a new mutual fund-of-funds service for financial institutions. S&P will handle research and analysis and recommend mutual funds, while Schroder will provide asset allocation, portfolio construction, risk management and performance measurement. The service, which will be available only in Europe and Asia, will allow brokers, banks and other financial institutions to offer custom-made fund-of-funds portfolios to individuals and through retirement plans, said Dave Guarino, S&P spokesman.