Reuters UK – Demand for multi-manager funds is increasing in Asia and has been a fast-growing area of fund investments globally as investors seek better returns, a top HSBC fund manager said onWednesday.
Unlike single-manager funds, multi-managers employ an investment team to look after clients’ assets.
Multi-manager products took off in the last five years, with asset managers and consultants including HSBC, Mercer, Credit Suisse, Aon and WestLB all jumping on board, said Joanna Munro, global chief investment officer at HSBC Investments, the fund management arm of Europe’s biggest bank, HSBC.
“Increasingly, as you’re wanting a broader asset allocation, you’re wanting to invest in high-yield structured products, hedge funds, property. Chances of one asset manager being able to do it for you becomes very remote,” Munro told Reuters.
“What you need is experts in each part of your portfolio and you are already in a world where you want multiple managers.”
