Quarterly Overview

Subadvisory Quarterly Overview, 1Q 2018      5/31/2018
  Mandate change activity in 1Q'18 totaled $13 billion across unaffiliated subadvisers. This was lower than the level of activity in the previous year. Most of the activity concerned open-end fund mandate changes, which totaled nearly $11 billion. There were a little more than $2 billion in variable annuity (VA) mandate changes.
   
Subadvisory Quarterly Overview, 4Q 2017      2/28/2018
  Mandate change activity in 4Q'17 totaled $22 billion across unaffiliated subadvisers. This was slightly higher than the level of activity in the first three quarters of the year. Most of the activity concerned open-end fund mandate changes, which totaled nearly $15 billion. There were a little more than $7 billion in variable annuity (VA) mandate changes.
   
Subadvisory Quarterly Overview, 3Q 2017      12/1/2017
  Mandate change activity in 3Q'17 totaled $17 billion across unaffiliated subadvisers. This was lower but consistent with the level of activity in the first two quarters of the year. Most of the activity concerned open-end fund mandate changes, which totaled nearly $10 billion. There were a little less than $8 billion in variable annuity (VA) mandate changes.
   
Subadvisory Quarterly Overview, 2Q 2017      8/25/2017
  Mandate change activity in the 2Q'17 totaled $20 billion across unaffiliated subadvisers. This was consistent with the level of activity in the first quarter. Most of the activity concerned open-end fund mandate changes, which totaled $12 billion. There were about $7 billion in variable annuity (VA) mandate changes.
   
Subadvisory Quarterly Highlights, 2Q 2017      7/3/2017
  Mandate change activity in the first quarter of 2017 totaled $20.0 billion across both affiliated and unaffiliated subadvisers. This represents a slow-down in activity after a very active year in 2016. Most of the activity concerned open-end fund mandate changes, which totaled $16.1 billion. There were $3.9 billion in variable annuity (VA) mandate changes.