The multi-asset fund will provide access to a diverse range of alternative investment strategies, as well as alternative assets on retail investment platforms, which have not historically been directly available to UK investors.
The strategies will comprise private equity, hedge funds, commodities, real assets and specialised properties.
The Schroder Investment Solutions team will be responsible for the management of the fund, as it has previously been responsible for the alternatives component of the firm's model portfolio service.
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SIS noted the fund will exclusively be made available to clients invested in its MPS range.
The alternatives fund aims to provide returns that are not correlated to traditional markets, while offering diversification benefits amid current volatility.
Alex Funk, CIO of SIS, said: "It is crucial for us to continue innovating and striving to get our clients access to best-in-class investments across all asset classes to ensure we continue to deliver the best client outcomes.
"This highlights SIS's commitment to providing clients with access to top-quality investment opportunities and staying ahead in the market."