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Multi-manager is now in the mainstream

Multi-manager investing has moved from being a satellite investment product to becoming part of the mainstream over the last few years, according to multi-manager round table delegates.

Gartmore multi-manager fund manager Marcus Brookes said funds under management in funds of funds have soared to £26bn – an increase of 48 per cent from a year ago.

He said: “A lot of funds of funds we see now have come from the private client environment in the form of institutional pension funds. They have gone from being a bespoke portfolio service to being part of the mainstream retail market.”

New Star head of investment (fund of funds) Mark Harris said: “Standards have improved, risk management has improved and people see the potential of the sector although some investors struggle to differentiate between the multi-manager and fund of fund proposition.”

Jupiter director John Chatfeild-Roberts said he has noticed an increase in IFA interest in the sector and he expects this to continue as many advisers look to outsource their fund selection.

Credit Suisse co-head of multi-manager Gary Potter said a mixture of regulation and compliance has helped with the process of moving fund of funds from satellite to core over the last five years.

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