Edinburgh-based asset management giant Standard Life Investments (SLI) said its MyFolio range of funds — which enables investors to choose their preferred level of investment risk — reached £10 billion in assets under management for the first time.

SLI said this was due to “strong client demand for risk-based portfolios.”

Bambos Hambi, head of fund of funds management at SLI said: “As a company, this is a significant milestone for us.

“It confirms that the investment process we adopted at the outset is delivering as intended which, when combined with clear and effective communication, continues to hit the mark for advisers and investors alike.

“Across the range, our funds are delivering what they set out to do. During the last year cumulative returns for investors were commensurate with the risk they chose to take.

“This ranged from 7.6% for a lower risk fund to 25.3% for one of our highest risk funds.

“Over three years, the same outcomes were realised, with returns graduating from 12.5% to 33.0%.

“Since the launch of the growth funds in 2010, total investment returns to investors range from 30.7% to 72.0%.

“This consistently strong performance has helped MyFolio attract strong flows, during what has been a prolonged period of market volatility and economic uncertainty.

“During this time, investors have been keen to benefit from a flexible investment solution which offers diversification across 18 asset classes.”