Latest multi-asset fund must translate into performance

Last year's flood of property funds has quickly turned into a welter of multi-asset products, with s...

Last year's flood of property funds has quickly turned into a welter of multi-asset products, with seven launches announced in the last month alone. After years of espousing the stockpicking mantra, groups such as Fidelity and M&G are now convinced they can add value by allocating assets between equities, bonds, property, cash, and potentially commodities. Stockpicking and asset allocation are obviously not mutually exclusive but with most groups now so dismissive of any mention of top-down or sector views, this sudden interest has the feel of a fad. With many with-profits funds continui...