If I have to choose a multi-asset fund, I will first go for what is the allocation principle that the fund will follow If it is spelt out very clearly, that at all times,
one will be invested 50% into equity, 15 to 20% into arbitrage opportunities, if it is a frozen allocation and a pre-stated one,
I will like that fund I like them for their discipline I like them for their tax efficiency I like them for their underlying tax efficiency Many a times I have seen that when the fund manager retains all this flexibility with himself,
he does not really succeed If a fund is able to deliver me these allocations in a disciplined way, and he is just plainly and simply doing the rebalancing,
I will be very happy because I will be a winner with that simple strategy Because the problem of taking a big call on whether to be tilted with equity or to be tilted with fixed income,
and the likelihood of going wrong, and what we keep saying that you can't time the market, that is as much true for fund managers as well