What is behind the popularity of multi-asset portfolios?

Mr Harman adds: "Multi-asset investing can provide a high degree of diversification and a better risk-adjusted return than a single asset class option, such as fixed income or equities in isolation."

For Peter Sleep, senior investment manager at Seven Investment Management, managing risk is one of the biggest reasons why multi-asset funds have become so popular over recent years. 

"I think the rise is explained by people's increased awareness of risk, which in particular has been driven by greater regulatory scrutiny of risk," Mr Sleep comments.

simoney.kyriakou@ft.com