Fund ratings agency Rayner Spencer Mills Research (RSMR) wants to help advisers navigate the world of discretionary fund management (DFM) with a new product, which will rate managers' processes and the sustainability of their performance.
RSMR will bring to market a rating service of DFMs, which will give advisers an assessment of the firms' managers and their underlying strategies. The due diligence aid will launch within the coming months with current plans to make it free to view for advisers, in line with RSMR's other fund ratings, which are ultimately paid for by providers. RSMR said the product was developed following a survey, which indicated advisers were confused about DFMs. Concern about adviser due diligence on DFMs and multi-managers had already been raised in two consecutive reports by consultancy the l...
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