A sea change is happening in the world of multi-manager. The days of a standalone team running retail multi-manager money appear to be a thing of the past for some of the big investment houses.
Instead, they are keen to create one multi-asset team to run all the products, with institutional investment processes being used on retail ranges. The emphasis appears less on picking managers and more on asset allocation calls driven by the groups’ wider investment outlook and themes. We have seen such moves in recent weeks with changes announced at both M&G and Schroders. At M&G, the retail multi-asset funds have been taken over by a team under the leadership of Dave Fishwick, who was appointed to the new role of head of macro and equities investment in July 2010. The funds will...
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