The bestof the best

The 'multi-manager' concept is one of the fastest growing sectors in the asset management industry. Cerulli Associates recently reported that there is now more than $1 trillion held in global multi-manager products (excluding funds of hedge funds). This is up 30% on last year and is predicted to continue to grow by 14% pa compound until 2008. Many new players have entered the UK market recently and, as the market expands, there will be both winners and losers. The jury is still out as to whether many of these can deliver on their promise to find the best of breed but one thing is certain...