Institutional investors' philosophies are changing with the times. The products they're asking for are becoming more and more in-line with larger social and macro-economic trends, according to a report from Boston-based consulting firm Cerulli Associates and the Institutional Investor Institute. Given the heightened global turmoil and volatility, for example, many have moved farther away from traditional assets and are now asking for exposure to emerging markets and different kinds of fixed-income. They're also showing more interest in investing in socially responsible and environmental and social governance, Cerulli reported. Moreover, the changing dynamics of retirement planning have also affected how some pension funds are invested. Click through for the full list of the top 10 products institutional investors have requested of advisors and asset managers in the past twelve months.

Credit: U.S. Institutional Markets 2012, Cerulli Associates