Multi asset | Feature


A meal deal, mix-and-match, three-for-two, a family rail ticket - often when buying a selection of associated, but not the same items, you can earn yourself a discount. It is a reward for the customer taking up a range of goods that earns an income across the board for the supplier.


When it comes to multi-asset investment, however, that is not always the case. Once known as balanced funds, offering just equities, fixed income and a smatter- ing of real estate for good measure, multi- asset funds have expanded their repertoire to offer investors


a wider showcase of


securities. Responding to investor demand for a broader spread of risk, the typical multi-as- set fund can hold a wide range of bond, credit and other debt instruments, equities from around the world and some illiquid assets, too. The aim is to smooth out the ride for the end investor, as one part of the portfolio should rise as another falls. Almost every fund manager of any size has created


a multi-asset investment team.


Some of the largest funds in Europe are run on this risk-spreading basis.


Issue 82 | March 2019 | portfolio institutional | 35


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