Research: Sub-advising in Europe
Methodology
Our sub-advisory survey was initiated by e-mail questionnaire. Telephone interviews were then conducted by
PWM’s researchers with major retail and private banks,
insurance companies and fund houses at a senior
management level.
The panel of 85 institutions covered Austria, Denmark, Finland, France,
Germany, Italy, Norway, Spain, Sweden, Switzerland and the UK. Our
researchers targeted in
particular those institutions already using sub-advisers and those planning to do so in the future.
In addition to naming sub-advisers, rating them and providing selection
and replacement criteria, respondents were asked whether they had
separately managed in-house assets, how the outsourcing decision was
made and about branding issues.
CRACKING THE CODE
The information is presented by country. Within each country each
institution is listed alphabetically. Institutions are coded (eg,
Italy’s Banca Intesa is IT3) and these codes are linked to a list of
sub-advisers on page 26.
