Multi-manager fund sales more than double over year

Fidelity FundsNetwork, the UK’s leading investment platform, has revealed that the popularity of multi-manager funds has continued to surge, as sales of the funds on the platform have more than doubled over the last year.

In 2005, gross sales of multi-manager funds accounted for £133million on FundsNetwork, whereas 2006 to 15.11.06 have seen gross sales rising of £310million. This equates to a rise of more than 130% in just 12 months.

Last year 94 multi-manager funds from 19 different fund partners were available on FundsNetwork, and this has since risen to 119 multi-manager funds from 25 different fund partners. These figures look set to grow, as recent research from Fidelity International found that the majority of advisers (98%) who use multi-manager funds expect the extent to which they use them, to either continue or increase.

Rob Fisher, Head of Marketing and Propositions, FundsNetwork comments:“It’s clear that multi-manager adoption shows no sign of slowing. Fuelled by the surge in popularity, a further 25 new multi-manager funds have launched onto FundsNetwork since we ran our analysis in 2005. It’s also apparent that clear advisers see clear advantages in the combination of multi-manger funds with our platform services and the business benefits they bring together.”