Unfettered funds of funds would seem preferable to the fettered variant for giving superior performance but the split is not so clear cut
Given their greater freedom, unfettered funds of funds, it can be argued, should outperform their in-house fettered peers. Not everyone agrees, including Fidelity, which continues to run with fettered products such as its Wealthbuilder fund managed by Richard Skelt. Investment Week's sister publication, MultiManager, examines the pros and cons of fettered and unfettered funds to see which have produced the best returns. The survey examines what factors go into producing returns in funds of funds, including not only picking the underlying holdings but also asset allocation, style ble...
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