No shortcut to success with proliferation of product

multi-manager conference

Between 1960 and 2003, the number of asset management houses in the UK has risen from less than 20 t...

Between 1960 and 2003, the number of asset management houses in the UK has risen from less than 20 to 130, while the number of funds has risen from about 50 to in excess of 1,800. John Kelly, head of multi-manager investments at Abbey, said in such circumstances, trying to pick the right fund is like searching for a needle in a haystack. He added this growth in choice is coming at a time when clients are becoming ever more demanding, regulatory burdens are increasing, margins are falling and costs are going up. Kelly said: "These clients are often mature. They have a lump sum for retir...