Flick back through the archives of Professional Adviser and you will find numerous instances where the consolidation of the multi-manager market has been predicted.
Ten years ago multi-manager was an exciting new concept that large numbers of IFAs were expected to adopt and which saw many asset managers launch funds into the market to take advantage of the predicted surge in demand, only to find it did not occur in the volumes expected. Slow growth rate Early growth in the market saw assets under management move from around £11bn in 2000 to £12.5bn by 2004 spread amongst 208 funds. This slow rate of growth prompted commentators at the time to predict a two-to-three year period of consolidation in the multi-manager arena. That did not ...
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