Most IFAs do not know the difference between types of multi-manager funds, says Fidelity multi-manager portfolio manager Richard Skelt.
He claims many intermediaries are unsure about the difference between fund of funds, multi-manager and manager of manager.
One year after the launch of the Fidelity multi-manager funds Skelt claims that IFAs are still confused about what each type of fund does.
Last week, Fidelity rounded off a series of national roadshows and Skelt said the main theme of questioning had been about the difference between multi-manager funds.
He says: “The main question that I have been asked is what is a manager of manager and what is a fund of fund. It is important that this difference is cleared up and that IFAs understand what the manager is doing. IFAs are really interested in this area but there is confusion about what each one of these does.”