What does "subadvised" mean?

Sub-advised funds represent a unique investment structure where an investment company or mutual fund engages a third-party money manager. This arrangement allows for the utilization of specialized expertise in managing a particular investment strategy.

The primary objective of hiring a sub-advisor is to tap into their proficiency in executing a specific investment approach. Investment companies often seek out these professionals due to their proven track record and deep understanding of the market.

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The sub-advisor is responsible for managing the investment portfolio, making decisions on asset allocation, and selecting individual securities. They work closely with the investment company to ensure that the fund's objectives are met.

This collaborative approach offers several advantages. Firstly, it allows the investment company to focus on other aspects of fund management, such as marketing and distribution. Secondly, it ensures that the fund benefits from the sub-advisor's specialized knowledge and experience.