Standard Life Investments fund range MyFolio has reached £1bn funds under management after only 16 months.

The growth makes it one of the fastest growing fund ranges in the firm’s history, says the company.

MyFolio, which was launched in October 2010, is a suite of risk-based portfolios that offer a choice of active and index-based investment strategies across five risk levels.

The funds are available via direct investment, Standard Life platforms and tax wrappers and via selected third party platforms.

Commercial property is part of all MyFolio funds and absolute return investment strategies are incorporated across the four active MyFolio options: multi-manager funds, multi-manager income funds, managed funds and managed income funds.

Multi-manager funds are selected from the whole of the market while managed funds are selected from the Standard Life Investments range.

Bambos Hambi, head of funds of funds management, said: “We always knew the MyFolio fund range had something special to offer clients and advisers, but I’m especially pleased we’ve hit the one billion threshold so soon.

“Even in such a volatile market, the funds are delivering what they set out to do.

“MyFolio now has one of the largest and most experience research teams in the industry which reflects Standard Life Investments’ commitment to the fund range and will help it grow further in the years ahead.”