American Skandia of Shelton, Conn. has introduced the American Skandia Asset Management Portfolios, a new group of mutual fund wrap products which will allow financial professionals to charge a fee for providing them, according to the company.

These products are different than other wrap programs in that they offer a choice of 200 mutual funds, not just American Skandia funds, according to the announcement. American Skandia used its investment selection process to determine which funds would be offered. It focused on historical performance, longevity of managers, and pureness of investment objectives, said Patricia Abram, senior vice president and director of variable life insurance and wrap products for American Skandia.

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