pa analysis multi-manager news a bump not a hurdle

As rumours circulate about the future of two multi-manager firms, the bigger picture is still a healthy one.

pa analysis multi-manager news a bump not a hurdle


Encouragingly, most of the recent multi-manager announcements have been the hire of senior managers into brand new roles as firms are looking to beef up their capability rather than having to hire replacement staff.

On 28 October, Aberdeen Asset Management hired Aidan Upton into a newly created business development role; a week earlier Fidelity also announced a brand new role, for James Bateman as a portfolio manager in its multi-manager team.

Earlier in the summer the likes of First State and Man Group announced plans for new multi-manager offerings while established players such as Skandia Investment Group and Henderson rang the changes to expand their range or shift their management structure around.

One thing we haven’t yet written about is multi-manager propositions being closed down although there are rumours circulating about the future of a couple of them. An announcement about the future of LV= Asset Management’s multi-manager funds that are being transferred to Threadneedle without the LVAM fund managers, Paul Kim and Richard Timberlake, joining them is expected in the first half of this week.

Edward Bramson is the investor-turned-chairman who is now leading the strategy at F&C and he is reportedly questioning the future of its entire retail division that includes the Thames River multi-manager team it acquired in September.

These are hopefully isolated uncertainties and exceptions to the current multi-manager growth trend – I am sure that the introduction of RDR and the 14 months until we get there will only cement their position.


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