However, as fund groups add RDR-ready share classes to their fund ranges there is starting to be some divergence in multi-manager annual management charges (AMCs).

This guide examines what part multi-manager should play in a portfolio, their pros and cons, how to determine the suitability of client and fund, and whether their higher costs can be justified.

Answers were supplied by Rob Burdett and Gary Potter, co-heads of Thames River Multi Capital; Robin Stoakley, managing director of UK intermediary at Schroders; and Nick Rosenblatt, head of UK retail strategic accounts at Russell Investments.