What does multi-manager mean? Multi-manager is a catch-all term for funds that hold underlying inve...
What does multi-manager mean? Multi-manager is a catch-all term for funds that hold underlying investments managed by other investment managers. Multi-manager funds are broadly split into two categories - fund of funds and manager of managers. What's the difference? With a fund of funds, the manager constructs a portfolio by buying funds that are commercially available, either onshore in the UK or FSA-recognised funds listed offshore. A manager of managers awards specific mandates to external fund managers rather than investing in pre-existing funds. Is one better than the other? Not...
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