In a market defined by uncertainty and concentration, not all multi-asset funds are built the same. Discover what advisers should be demanding from managers in 2026 and why active management matters more than ever.
Why multi-asset matters more now
Multi-asset funds have long been a cornerstone of adviser portfolios, but today their role is being tested like never before. Rather than simply offering diversification, they provide clients with a ready-made portfolio: a blend of equities, bonds and alternative investments from across the globe, aligned to different risk profiles. In effect, they offer a one-stop, diversified solution designed to meet a range of client needs within a single portfolio.
That role looks even more important in 2026. Advisers are balancing a complex mix of client concerns: the cost of living remains front of mind, interest rate expectations continue to shift, equity markets are increasingly concentrated, and geopolitical headlines regularly test investor confidence. In that environment, clients do not just want growth, they want reassurance, resilience and a smoother investment journey.
For advisers, this shift is not theoretical. It shapes how portfolios are built, how expectations are managed and how successfully clients stay invested during volatility. Increasingly, it raises a more fundamental question: how well portfolios can adapt as conditions change.
That is why the conversation around multi-asset has moved on. Static asset mixes and long-term averages are no longer sufficient. A strong multi-asset fund must demonstrate not just what it holds, but how actively it is managed; how it adapts, manages risk and seeks new return opportunities over time.
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