Defending ERISA Fiduciaries Against Claims of Failure to Diversify in a World of Multi-Manager Investments | Employee Benefits

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Although they are generally lauded for increasing diversification of investments, investment managers and employee benefit plans need to be aware of the potential for ‘‘overlapping’’ and its impact in situations where ‘‘plan assets’’ are invested in multimanager investments and, in particular, fund of funds (‘‘FoF’’ or ‘‘FoFs’’) investment strategies.