How can multi-manager funds cushion against volatility?

At this time of the year when the long hazy summer evenings, permeated with the tantalising smell of barbeques infused with a certain ‘Joie de Vivre’ become a distant memory and Europeans return to their workplaces, thoughts normally return to the markets, well, that is how it’s supposed to be. Instead, financial markets have been in freefall, political crises have engulfed the US, Europe and the Middle-East while, regrettably, in parts of the UK the sensory allure of seared steak has been overwhelmed by the blare of police sirens, the sounds of breaking glass and a far less appealing bu...