Wealth managers reveal their multi-asset fund picks

James Calder, research director, City Asset Management We run multi-asset portfolios, but what we find is that having exposure to what we consider alternative funds is useful. We use multi-asset funds as they provide a bit of an anchor to portfolios depending on the prevailing market conditions. We have a good idea of what those funds should be providing. The problem is volatility in equity markets; you are never guaranteed these things but we expect to make a reasonable level of positive returns. When equity markets are doing well, multi-asset funds will look like they are lagging but...