Simon Ellis, head of AXA Multimanager, is pleased with the introduction of Ucits III which has allowed multi-managers to adopt a hybrid approach
The last three years have seen rapid acceleration in multi-manager investing. According to a survey carried out by Cerulli in June, retail multimanager assets under management in Britain have grown from £12bn in 2001 to £27.5bn in June 2004. As more multimanager funds are launched in the UK, the debate about whether a fund of funds or a manager of managers is best, seems to have taken centre stage - there is little point in having this debate, and that providers should instead focus on building portfolios that deliver the outcomes that clients expect. Providers should use the full range o...
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