Multi-manager

FUND of funds manager iimia has backed specialist growth funds and commodities to outperform the market.

HEARTWOOD Wealth Management has launched a new equity income fund of funds.

Rob Burdett and Gary Potter's successors on the Credit Suisse Multi-Manager Constellation fund have already sold five funds in a bid to make the portfolio more concentrated.

RICHARD Philbin, director of fund of funds at F&C, has said the group is taking a more defensive stance on its multi-manager funds, and has upped its cash position from 0pc to 5pc in recent months.

MULTI-manager firm T.Bailey has won the mandate to run the IFA-owned IF Alliance Liberation VII fund from Close Private Asset Management.

HENDERSON'S multi-manager team has been building its positions in equity income funds recently as it continues to avoid bond portfolios.

BARING Asset Management (Barings) has applied for distributor status for its range of three multi-asset fund of funds portfolios, making them more appealing to the UK market.

BAILLIE Gifford has reported almost half of OEIC sales in 2006 came through multi-manager funds.

IFA firm Falcon Group has launched an OEIC with two sub fund of funds managed by Premier Asset Management.

GARTMORE Multi-manager team is ditching its holding in the Credit Suisse UK Property trust, Professional Adviser has learned.