Managed funds

GAM has launched a tactical multi-asset fund to be run by its asset allocation team, headed by Graham Wainer.

Jupiter's John Chatfeild-Roberts and team have added a commercial property play as well as funds from Invesco Perpetual and Majedie as part of the latest changes to their Merlin multi-manager portfolios.

Fidelity Worldwide Investment has moved to put pressure on rivals in the passive space with the launch of four low-cost index funds.

Active managers investing in passive funds can add value by being selective in the benchmarks their trackers use, HSBC's global head of indexation and exchange-traded funds has argued.

ON ASIA

US passives giant Vanguard has cut prices on two of its core UK trackers, following the removal of stamp duty on funds.

Holdings in cash among wealth managers have been rising in recent months as profit-taking off the back of rising equity markets, coupled with fears over slowing global growth, prompt valuation fears for some risk assets.

For managers looking to add alpha to their portfolios, striking the balance between stock concentration and portfolio diversification can be a tricky one.

Sebastian Lyon, manager of the Troy Trojan fund, has warned shares in mid- and small-cap stocks are currently ‘priced for perfection', after valuations shot up substantially over the past decade.

Advisers and multi-managers reveal the funds they are backing for adventurous, balanced and cautious investors this year