Over the last years, the business model of traditional funds of funds managers has been changing, with a notable shift towards more diverse investment portfolios. The underlying array of investments has widened and is now spread across all four quadrants of real estate investing (private equity, private debt, listed and direct real estate). The shift away from predominantly fund investing leaves ‘funds of funds’ terminology no longer fit for purpose when it comes to capturing this investor segment. As of 2024, what were previously INREV’s and ANREV’s Funds of Funds Study and Funds of Funds Universe have been renamed to Multi Manager Study and Multi Manager Investment Solutions Universe, respectively.
Key highlights include:
- Multi managers’ allocations to non-core investments increased to a record 27% by the end of 2023, with a focus on value added strategies
- Allocations to non-listed funds now account for only 35% of multi managers’ total AUM, with the latest results revealing an increasingly diverse allocation of capital by vehicle type
- Given the recent diversification of their underlying portfolios, multi managers’ time to market advantage increases
Download the snapshot and report below.
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Multi Manager Study 2024
Last updated on 28 Aug 2024