Fund of fund (Fof) managers are becoming more controlling over asset allocation, a move that is turn...
Fund of fund (Fof) managers are becoming more controlling over asset allocation, a move that is turning the vehicles into manager of manager (Mom) funds, according to David Hambidge, Fof manager at Premier Asset Management. Hambidge said managers are seeking to control asset allocation on too regular a basis. "The majority of Fofs are trying to be Mom portfolios with complete control over asset allocation on a daily basis. Fofs should be all about trusting managers," he added. He claims the effect of the controlling approach over asset allocation is that Fof managers risk damaging the i...
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