More Investors Turn to Multiple-Manager Accounts

Investors in mutual funds are increasingly turning to accounts with multiple managers, even though that means paying higher fees, The Wall Street Journal reports.

Accounts with multiple managers grew to $678 billion last year, an increase of 28%, and are expected to rise another 14% this year, according to the Boston-based research firm Cerulli Associates. But higher fees, typically 2% to 3%, and not-so-great performance still make them a questionable buy. Maybe investors just don’t trust themselves.