AM Corporation, an Australian pension and investment firm, is teaming up with the Millfield Group, the UK independent financial advisory firm, to enter the UK fund market.

The joint venture will become a stand-alone company, Lifetime Portfolio Services, targeted at UK independent financial advisers (IFAs) and corporations. LPS will establish a new funds administraion business as well as a comprehensive portfolio managment service to assist IFAs and their clients. The service will enable them to bring together products such as pensions, unit trusts, shares and life assurance in a single portfolio available online.