Of course, multi-manager funds are about more than simply outsourcing investments. Long considered the fulcrum of a diversified portfolio, an increasing drive towards asset allocation as the central tenet of managing client investments has also been a supposed boon for fund of funds.

Whatever the reasons, multi-manager funds are garnering a lot of attention. But while the RDR changes have put the spotlight on the sector, this has also heightened scrutiny of the funds in terms of the charges and adviser due diligence of the funds’ structures and underlying portfolios.

In this special report we take an in-depth look at how multi-manager propositions stack up against rival discretionary services, especially in terms of charges; speak to three multi-managers about where they see opportunities in the current climate; and go under the skin of the processes managers use to select funds to invest in - or divest from.

This report is produced in association with JPMorgan. For fund information, click here.