David Boyle: Investment outsourcing - where are we now?

To be clear from the outset, I am using the dictionary definition of the word ‘outsourcing' - in this case, where advisers are using a third party to do what they used to do, or by their permissions could do. What this means in practice here is multi-asset funds or discretionary management. In recent years, a proliferation of discretionary managed portfolio services (MPSs) have been offered to the retail market, but how do they stack up against their multi-asset fund counterparts? Perhaps a good starting point is to take a look at where advisers are currently placing their investment bus...