Norwich Union unveiled plans for significant improvements for its investment products.

From next week, investors will be able to make use of 32 funds that have been added to their range of investment funds available through its portfolio investment bond .

Expanding the Portfolio fund range means investors will be able to invest in a further two internal, four manager of managers funds, and 26 external funds from leading fund managers.

The new fund additions will ensure Portfolio offers a choice of investment styles across all major asset classes.

Investment advisers will also be able to use Launch Forecast, an online portfolio planning tool that is designed to help investment advisers find the right portfolio mix for potential investors.

This will show the benefits of financial planning and demonstrate the benefits of a planned portfolio as opposed to an unplanned portfolio. It also encourages potential investors to spread investments through a range of holdings and sectors, and educate investors about the impacts of portfolio changes and how this might affect risks and returns.

Neil Davies, head of investments at Norwich Union, said: The key to successful investing is robust portfolio planning, but delivering the portfolio recommendations that clients need can be time-consuming and complex for advisers. More choice for consumers can mean more administration and research for advisers. Forecast can make this job easier for IFAs.

More than 100 funds are now available through Portfolio and Norwich Union is determined to give advisers the high-quality information and tools needed to make effective decisions on behalf of clients. Forecast will help advisers build bespoke investment portfolios for clients while easing the compliance burden by assisting in keeping an audit trail.