What is the point of multi-manager funds?

investor at 9:19 a.m. Tue 23 Feb 2010

Fund Strategy blog has a post that underlines the pointlessness of mult-manager funds

The problem is that changes in managers, at both the multi-manager fund and the funds it invests in, mean that few funds are managed by someone with a consistent track record. The result is a need to monitor investments in funds of funds (the more accurate name for multi-manager funds), which rather undermines the argument for investing in them to simplify things.

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