Sub-advisers may be frustrated about by falling fees and higher service levels, but the model remains appealing for both asset managers and distributors

The emergence of ‘privileged partnerships’, where sub-advisers run multiple mandates, is a key trend to emerge from PWM’s 15th annual survey of the process

Respondents to PWM’s fourth annual asset allocation survey still have faith in risk assets, but tactical overweights to equities have fallen in favour of larger exposures to cash

Investments identifying long-term themes, such as the rise of technology and changing demographics, are popular among private banking clients 

Sub-advisory mandates can offer tailored solutions to meet advisers’ needs and higher levels of transparency which in turn increases trust

Respondents to PWM’s 14th annual sub-advisory research survey point to increased regulation and the promise of tailored solutions to meet clients’ needs as driving growth in the sector

Most private banks expect Japanese equities to continue to perform in 2018, with European stocks also expected to do well

More than 70 per cent of responders to PWM's Global Asset Allocation survey implement cross-sector investment themes, with interest in robotics and AI particularly high