All is clearly still not rosy in the world of asset management. Although the industry has had some good runs since the doldrums of 2008, there is still a lot of retrenching to be done.

Client and industry contacts suggest many of the groups with several moving parts are aiming to streamline their businesses and come to market with a more focused approach.

The recent past has seen the rise of the multi-boutique business model, where one, usually large group, acquires a number of smaller more niche asset managers and houses them under one roof while aiming to keep their individual brands alive.

Although the expertise of these groups is generally top-notch (since the individual boutiques tend to be less corporate and more about managing the money in their chosen investment style), the marketing side of things can turn into a logistical branding nightmare if not handled properly.

One challenge to be faced is how to incorporate a number of strong brands within an overarching big name. BNY Mellon, for example, is one such entity facing this conundrum.

In the UK, the American giant is home to Newton and its purchase of Insight Investment in 2009 added to its suite of strong investment expertise.

Both Newton and Insight have a strong brand presence, especially in the UK market, and therefore bringing those names in harmony with the BNY parent is undoubtedly a question it needs to solve.

Other multi-boutiques have a portfolio of lesser known boutique managers but presenting a cohesive front to their clients and potential clients remains vital.

For example, BNP Paribas Investment Partners, another multi-boutique asset manager, owns Alfred Berg, a Nordic focussed boutique. Although this brand, and others under the BNP Paribas tutelage, may not be as the front of mind as Insight or Newton, the group still needs to consider how it presents itself to clients.

The autonomous nature of the boutiques under a larger group’s hat is touted to be one of the most important factors in the success of the business model.

However, if the boutiques are to benefit from being part of a big group, some connection between the two needs to be made.

BNP Paribas has not been doing too well as of late, suffering outflows of some €900m in December – having seen around €22bn in funds walk out the door throughout 2011.

Though this was more likely to have been a function of the markets and investor sentiment (other French firms experienced outflows last year), one wonders whether the business model had anything to do with the lack of client support for the group.

Legg Mason, another group operating a multi-boutique model, has also been in trouble, with continued outflows from fixed income and equity products.

According to investment professionals within the firm, the business model has actually helped achieve certain levels of growth, due to its diversified offering.

In theory, the idea of a multi-boutique business model makes sense – niche investment houses are bought by large firms but not assimilated and therefore they keep some level of independence.

However, one does question whether a rebranding exercise across the board may do more for the individual products than the potential confusion caused by different brand names being thrown around? срочный займ на карту частный займ спбзайм на яндексзайм без отказа на киви