Richard Buxton and Philip Matthews have both slipped into the bottom quartile of the UK All Companies sector on a six-month view following their moves to Old Mutual and Schroders respectively.
Multi-managers are continuing to turn to commercial property as they seek to combine capital growth with new income streams.
Multi-asset managers have begun to add exposure to emerging market debt (EMD) after yields on dollar-denominated debt rose above those on junk bonds for the first time since 2005.
Investors have sunk nearly £35bn into underperforming funds, with Fidelity the worst offender by number of products, according to Chelsea Financial Services.