New mandates hint at a bright future
In this seventh annual PWM sub-advisory survey, 50 decision makers at private banks, life insurers, wealth managers and asset management companies were asked to give their insights into the European sub-advisory business.
Thirty-eight of the respondents gave a valuable contribution to the quantitative research, by filling in a detailed questionnaire on their existing sub-advisory business, the managers they have appointed in the past 12 months and their plans for the future. The participants in the study were also asked to comment on sub-advisory drivers in the hedge fund area, and on how the increasing convergence between the long only and the alternative space allowed by Ucits III regulation is likely to impact the sub-advisory business. Responses from companies that took part in the quantitative research are summarised in the tables below.
Senior executives at 12 other major organisations were interviewed to gain an in-depth understanding of the key drivers to sub-advisory, and examine how the decision to seek expertise from external providers affects internal staff and client offerings (see p12).
The results of both the quantitative and qualitative research were then combined to draw final statistics. The research targeted those institutions that sub-advise, as they have a deeper understanding on the topic. More than 90 per cent of the participants are currently employing external sub-advisers.
