Multi-asset funds became less popular in the last half of 2023, a study has shown.
A report from ISS Market Intelligence found there was a 7 per cent decline in multi-asset fund sales during the second half of 2023.
This was despite a marginal 2 per cent increase within the broader financial adviser channel.
ISS found challenges faced across the sector, including that just 28 per cent of fund managers had registered growth in multi-asset fund sales.
Benjamin Reed-Hurwitz, associate director, EMEA research lead at ISS MI, said: "[The report] equip sfinancial advisers and industry stakeholders with the necessary tools to navigate challenges and capitalise on emerging opportunities in the ever-evolving landscape of multi-asset solution sales.
"A landscape that accounted for 70 per cent of all fund sales in 2023 within the financial adviser channel."
The report looked at regional differences amid an overall decline in sales which found significant growth in London and the South West.
It also found Vanguard maintained its leadership position across all regions.
Most sales were within pension wrappers and there was a growth in sales that directly hold securities as opposed to using a fund-of-funds structure.
tara.o'connor@ft.com
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