multi-asset 

Multi-asset funds bring more flexibility to investing, though the similarities they share with multi-manager makes it imperative to understand the subtle differences

It has been an annus horribilis for the entire investment community but the financial crisis could put more pressure on multi-managers than other sections of the industry. Multi-managers aim to take the stress out of fund selection and provide diversification by employing a manager to decide on asset allocation and then pick the best available funds. This model has a number of challenges facing it. Fund of funds have higher fees as there are two tiers of fund managers to pay: those who select the funds and those who run the funds. According to Morningstar, the average TER for the UK ret...