Sub-advised fund assets topped $1.7 trillion in 2010, an all-time high, Financial Research Corp. said.

“Sub-advised products now represent 13.4% of the industry for mutual funds and 42% for variable annuities,” said Lynette DeWitt, director of sub-advisory research at FRC. “These figures are up from 12.9% for mutual funds and 40% for variable annuities at year-end 2009. In fact, market growth has been so strong that later this year we will be revising our 2015 forecast upward.”

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