Financial Research Corporation

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2012 Research Calendar

recent studies

recent studies

Sub-Advisory Now a Strategic Insight Suite of Services

FRC recognized the evolution of the sub-advisory market in the mid-1990's, well ahead of the mainstream, and remains the foremost expert in terms providing industry data to the investment management industry. Using its extensive proprietary databases to track current sub-advisory relationships, FRC is uniquely qualified to provide strategic direction as well as market intelligence to sub-advisors and investment product manufacturers.

FRC's mission in the Sub-Advisory marketplace is to work closely with senior management to provide direct, incisive, and focused solutions to achieve your business goals, validate strategic opportunities, provide actionable analysis related to industry trends, and to offer timely proprietary analytics and analysis to assist with industry benchmarking.

Trends and Opportunities in the Sub-Advisory Marketplace
In this unprecedented report, FRC partners with Strategic Insight to examine the market size, top players, and key trends in the sub-advisory marketplace. The report analyzes the growth and total market size of sub-advised funds in both the open-end fund and variable annuity market. In addition, the report exam¬ines top firms from both the fund sponsor's and sub-advisor's perspectives, providing analysis on top asset classes, trends in single-managed and multi-managed funds, and historical mandate wins and losses. Key takeaways provide market participants with discerning and actionable information to support their sub-advisory initiatives.

Winning in the Sub-Advisory Market
During first-quarter 2011, FRC conducted a survey of 20 sub-advisory firms and 13 firms that hire sub-advisors to gain views into the veritable black box that surrounds open mandates. FRCs analysis of the survey results revealed an understanding of how opportunities are approached and viewed by both types of firms. These first-time findings can be used by sub-advisory firms to help win mandates.The report also spotlights successful firms in the sub-advisory market and examines mandate wins, sponsor firms that hire the most sub-advisors, sub-advisor tenure rates, best-performing funds, and highest effective sub-advisory fees paid. Historical and current information are combined to provide a unique overview of the marketplace that makes this publication a valuable enhancement to FRCs sub-advisory product line-up.Download Fact Sheet pdf

2010 Sub-Advisory Mid-Year and Year-End Databooks
The Sub-Advisory Databooks are the industry's most comprehensive and up-to-date quantitative reports available for understanding changes and opportunities in this dynamic market.

These powerful data reports are a must-have tool for developing business strategies, making product decisions, and assessing providers and service options.

Each edition delivers:

  • In-house research teams at advisor/sponsorand sub-advisor firms with a complete competitive landscape
  • Sub-advisor firm sales teams with the information they need to better target their sales efforts

The report gives busy executives an in-depth view of the entire sub-advisory market. It includes current and historical performance data across dozens of categories, including:

  • Advisor and sub-advisor data at the fund, complex, category and industry levels
  • Detailed fee schedules, including advisory and sub-advisory effective fees and breakpoints
  • Multi-manager structures, active/passive strategies, and affiliation via new subsidiary sub-advisor designations
  • Largest mandate changes for the year
Download a Sample Table of Contents pdf

Building a Better Sub-Advisory Business: Hiring, Retaining and Firing in a Changing Market
In this study, FRC examines how the sub-advisory market has evolved over the past 5 years and specifically how the market has changed in response to the credit crisis and what sponsor firms plan to do through 2009-2010. Based on advisor and sub-advisor surveys, FRC also provides an in-depth assessment of the differences in how the firms view the sub-advisor selection processes and what makes up a best-in-class sub-advisory relationship. Other topics include fee and breakpoint analysis, assessment of the growth of the multi-manager marketplace, emerging product trends, and how advisor firms plan to use external managers in 2010.

Download Fact Sheet pdf

European Sub-Advised Funds and Third-Party Fund-of-Funds Report
This two-volume report, produced in conjunction with Lipper FERI, a London-based research firm that specializes in European mutual fund markets, is an extension of FRCs renowned U.S. sub-advisory research. The report provides an in-depth analysis of investment management outsourcing in European markets, examining opportunities from a macro perspective and at a more detailed level (fund manufacturer, fund domicile, or fund market and by performance, assets, and net flows). In addition to traditional sub-advised funds, the report reviews third-party fund-of-funds, which are a rapidly growing area for European distributors. The commentary by Lipper FERI is tailored for a U.S. audience, written to convey knowledge of the European markets with an appreciation for the similarities, and differences, with the U.S. mutual fund market.

Table of Contents:
Year-End 2007 Third-Party Fund-of-Funds Edition pdf
Year-End 2007 Manufacturer & Sub-Advisor Edition pdf

For more information contact FRC today at 617-963-8967 or e-mail