MM growth continues despite manager turnover

Despite increasingly short tenures, with high-profile names moving between groups, multi-manager assets have more than doubled since 2004 to over £33bn

Multi-manager investing has grown in popularity in recent years, with assets more than doubling since 2004 to over £33bn at the end of last year according to the IMA. A report on the sector by Defaqto in December said this level of growth is set to continue despite low confidence in the length of tenure in the multi-manager field, where turnover is high. There were several high-profile manager moves last year, including Gartmore's deputy head of multi-manager Marcus Brookes' defection to Cazenove, Forsyth Partners' Dean Cheeseman joining F&C, and F&C's Tom Caddick moving to LV=. Andy ...