Show me the money

Over the past few months I have constantly banged the drum for a brave new world in which asset managers finally bite the bullet and launch cost effective multi-asset portfolios, comprised largely if not exclusively of ETFs.

I see this innovation as one of the first building blocks of a new post RDR world in which we collectively escape the petty tyranny of single mandate equity funds and put asset allocation at the heart of modern fund management. And lo and behold, it appears to be finally happening! T Bailey has finally seen the light and is launching a Lite version of its more traditional multi-manager Growth fund, with a Tesco like TER of just 99 basis points. Advisory firm WKH Financial Services Limited has also launched what I think could be an equally deadly salvo in the form of its Asset First se...