The global market for multi-manager investments will surpass $1 trillion (€1.05 trillion) in assets under management by 2007, according to a report by Cerulli Associates, the global investment research and consultant firm.

Multi-management is one of the fastest growing areas of asset management, and Cerulli found that since 1999 assets in multi-manager vehicles have grown roughly 15% to $489bn by the end of 2001. Over the same time period mutual fund assets worldwide were nearly flat and the global asset management industry grew at 3%. According to Cerulli, continental Europe will be the engine of future expansion in multi-management.