Schroders has launched a £4bn Investment Solutions business offering model portfolios and multi-asset funds.

Morningstar has launched a new business unit offering institutions and financial advisers seeking to outsource fund selection or asset allocation access to a series of Select Lists and Model Portfolios.

A new survey has revealed the rapid growth of Centralised Investment Processes (CIPs) with 82% of intermediaries now using a CIP and 76% using model portfolios.