Definition of 'Multi-Asset Class'
A combination of asset classes (such as cash, equity or bonds) used as an investment. A multi-asset class investment would contain more than one asset class, thus creating a group or portfolio of assets. The weights and types of classes will vary according to the individual investor.
Also known as a multiple-asset class or multi-asset fund.
Investopedia explains 'Multi-Asset Class'
Multi-asset class investments increase the diversification of an overall portfolio by distributing investments throughout several classes. This reduces risk (volatility) compared to holding one class of assets, but might also hinder potential returns.
For example, a multi-asset class investor might hold bonds, stocks, cash and real property, whereas a single-class investor might only hold stocks. One asset class might outperform during a particular period of time, but historically no asset class will outperform during every period.
See if you can create your own mix of investments by reading Multi-Asset Funds Or Your Own Mix?