MultiManager evolution

Rather than diversify investments by distributing assets around several funds, investment managers adopted an institutional idea to create a fund containing lots of funds and diversify within. Now three years on, demand for products is picking up, and the market has evolved from its original design. When the fund of funds or manager of managers investment gained popularity in 2001, IFAs were understandingly cautious about recommending yet another new investment type to consumers, and only a couple of companies considered offering them. Some advisers had only recently had their fingers bu...