Multi-managers feel the pinch

Multi-managers feel the pinch

There was a time, not too many years ago, when multi-manager funds were seen as the next big thing for the fund industry.

Back then, with the arrival of RDR set in stone but still some way off, funds of funds represented a seemingly simple way for advisers to outsource their investment decisions. The trend towards outsourcing has naturally continued in the run-up to, and aftermath of, the 1 January 2013 RDR implementation date. But it has not taken the form many once expected. Instead of multi-manager offerings, it is discretionary fund management – and in particular model portfolios – which appear to have found most favour. There are winners in the multi-manager space, of course: the ubiquitous Jupit...