Analysis: the evolution of multi-asset strategies

The modern ‘multi-asset’ fund comes in a vast array of guises. Some are simple in their construction and others incredibly complex; indeed, there is a handful that more closely resemble hedge funds than truly long only ‘multi-asset’ funds. While in the past, multi-asset funds were ‘traditionally balanced’ - their ilk like lumbering beasts – their modern counterparts can be nimble and expansive in terms of their potential asset mix. It is important to remember, however, that with new approaches come new risks and complexities, which must be understood, and hopefully managed, by the end...