Advisers move money to multi-asset funds

Sales of funds in the IMA Cautious Managed sector, which can hold a maximum of 60% of investments in equities, accounted for 14% of total net sales during the month. Of these sales, the most popular was Fidelity's Multi Asset Strategic fund. The move is evidence that demand for equity exposure among advisers is on the rise after a number of recent market rallies and positive economic data worldwide. But it also shows that as uncertainty dominates, advisers are keen to hand over the asset allocation decision to a fund manager. Despite the rise in popularity for multi-asset vehicl...