Skandia Investment Management led the top-sellers of multi-manager funds in the final quarter of 2005, according to the Pridham report.
Over the course of 2005, the group has added &913m in assets under management, bringing it up to &3.13bn. Jupiter and SWIP were also beneficiaries of the growing move towards multi-manager. Jupiter has added &372m, while SWIP has added &519m.
Relatively new entrant MLC, owned by National Australia Bank, also performed well and now has &1.1bn under management. It was among the best of the manager of manager approaches.
Confirming the popularity of the multi-manager concept, research by FundsNetwork shows that multi-manager sales on the platform have grown six-fold in the past three-years.
The platform, which has 153 multi-manager funds from 32 providers, says that multi-manager funds accounted for &153m of its business in 2005, up from just &27m in 2002.
Rob Fisher, marketing director at FundsNetwork, said: &The growth of unfettered fund of fund products has made a huge impact on what is a fast growing market. Along with the popularity of multi-manager has come a vastly improved range of choice, something that is reflected by the number of multi-manager funds on our platform now.&
Fidelity, New Star, Credit Suisse and Jupiter are the best-selling funds on the platform - Jupiter holds the top three positions with its Merlin portfolio range.
Credit Suisse's MM Cautious Managed and Constellation funds are fourth and seventh respectively on the list, while Fidelity's multi-manager growth and multi-manager income funds came fifth and sixth.
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