Large asset managers whose primary focus is on products which support large-scale distribution, can find innovation challenging. In contrast, boutique firms—specialists in their fields— are more flexible. Their smaller size and focused approach give them the space to innovate their investment approaches, which can then be sustained even with limited capital and capacity. 

Boutique portfolios tend to be concentrated and high conviction, making them an excellent fit for multi-manager portfolios like ours, which combine these managers with other active managers with lower volatile strategies. This balanced approach allows us to achieve optimal risk-adjusted performance.

Additionally, our proprietary MedInSync® platform connects internal teams with insights from over 60 global asset managers, distribution partners, and subject matter experts. Every product innovation is evaluated through four core pillars: client-centricity, breadth of ideas, investment quality and commercial delivery, ensuring market relevance, adviser input and long-term value.

MIFL’s multi-manager process combines quantitative and qualitative analysis to find the best-in-class investment managers.

The model provides retail investors with access to innovative boutique investment firms alongside larger institutional managers. While larger firms offer scale and market reach, boutique managers bring agility, high-conviction strategies, and deep specialisation. 

A multi-manager approach integrates different investment styles and leverages the expertise of top-tier fund managers across multiple asset classes and geographies. This ensures portfolios are not reliant on a single investment philosophy, enhancing resilience and improving long-term performance.

Investing with Mediolanum means your capital benefits from a higher level of diversification across thousands of underlying securities, enabled by our multi-manager approach. Your investment is allocated across different asset classes, geographies and sectors, and managed by a carefully selected group of highly specialised active managers from around the world — each chosen for their specific expertise.

No single manager consistently outperforms in all market conditions. By combining complementary specialists within a single portfolio, clients benefit from greater balance and resilience, helping to deliver more consistent outcomes. In every market environment, some components of the portfolio are positioned to perform.

Boutique status is more about investment performance than assets under management. Boutiques usually have a single investment process, a limited number of strategies and, crucially, key investment team members who are shareholders in the business. They usually lack the large distribution and marketing teams of larger firms, and that model keeps the focus on investment activity, without distractions.

At the heart of the boutique mindset is the prioritisation of long-term relationships over short-term gains. Because key staff are shareholders, they think like entrepreneurs, which encourages a focus on the long-term value of the business rather than on meeting short-term budget targets.

While larger asset managers do innovate, their primary focus is on products that support large-scale distribution, aiming to raise significant funds quickly and avoid capacity limits. Strategies that do not achieve their target profitability are closed, or the team is disbanded. That can prove challenging for innovation.

Boutique firms, as specialists in their fields, are more flexible. Their smaller size and focused approach give them the space to innovate their investment approaches, which can then be sustained even with limited capital and capacity.

Boutique portfolios tend to be concentrated and high-conviction, making them an excellent fit for multi-manager portfolios, which combine these managers with other active managers that have less volatile approaches. That balanced approach paves the way for optimal risk-adjusted performance.

In volatile markets we believe portfolios should not rely on a single investment style or investment process. Combining different active managers, with distinct approaches and areas of expertise, helps smooth the variability of returns over time and allows investors to participate in market opportunities while managing risk.

Over longer periods, fundamentals dominate. For equity strategies we believe a horizon of at least seven years materially improves the probability of generating excess returns. In fixed income, positive outcomes can be observed over shorter timeframes of three or five years. Success based on luck is not repeatable; repeatable outcomes are the result of systematic processes.

Disclaimer: The information contained herein is for informational purposes only and may be subject to change. It does not constitute investment or any other advice or recommendation, nor does it constitute an offer or invitation to invest in the product. It should not be construed as an offer to sell or a solicitation of an offer to buy, and it should not be used for making investment decisions. Before making any investment decisions, please refer to the Prospectus and the Key Information Document in the respective Documents tab on the Product page.

Our products are built by pooling our best internal competencies with third-party managers in well-diversified strategies. Those products are then paired with investment services — such as the Intelligent Investment Strategy — which give clients a method for weathering market volatility.

A product defines what you invest in; a service helps guide how and when you invest. At Mediolanum, our advisory philosophy brings these together through diversification and a long-term perspective, while recognising that investment outcomes are not guaranteed.