Asset managers may find themselves more than a little disinterested in the subadvisory market as growth in that world has been especially flat, despite the total numbers being substantial.
The newest edition of Cerulli Research's U.S. Asset Management Edition discusses the strategies asset managers will need to try to make the most of that not-insignificant subadvisory market, which totaled $2.8 trillion in assets under management at year-end 2011, spread across mutual funds, variable annuity subaccounts, and retail separate accounts.
As the research notes, growth has been nearly flat during the past three years, accounting for between a 12.4 percent and 12.5 percent share of total long-term mutual fund assets. Based on those less-than-stellar returns, Cerulli anticipates that competition for limited mandates will remain intense.
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