Brookes pushes for more asset allocation within Fofs

Fund of funds that do not offer asset allocation as part of their investment approach are failing to...

Fund of funds that do not offer asset allocation as part of their investment approach are failing to do their job properly, according to Cazenove Capital's Marcus Brookes. The group's head of multi-manager believes funds which simply offer a list of top managers do not warrant their high fees. Brookes says fund of fund managers need to adopt an economic viewpoint, and be prepared to change their allocation and managers when they no longer meet their needs, regardless of how well regarded a manager may be. "If you do not provide asset allocation, then you cannot really provide a long-t...