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Article: Outlook Upbeat for Sub-Advised Funds: Global Demand to Fuel Need for Fund Specialists.
- Article from:
- Money Management Executive
- Article date:
- January 28, 2008
- Author:
CopyrightCOPYRIGHT 2008 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK-The marketplace for sub-advised and multi-managed funds is projected to continue growing as financial products become more complicated and fund shops look to outsource specialized work.
"More firms are turning to sub-advisors to leverage external skills," said Lynette DeWitt, vice president of sub-advisory research for Financial Research Corp. "We will likely see a narrower product focus as competition increases."
Sub-advised products comprised approximately $1.6 trillion as of year-end 2007, including $1.1 trillion in mutual funds, or 69%, and $513 billion in variable annuities, or 31%, DeWitt said last Wednesday at Financial Research ...
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