Nearly 60 percent of institutional investors used consultants to manage their funds in 2012, according to a Cerulli Associates survey released Monday.

Consultants, the survey said, are more likely to be employed by smaller funds. Of those with less than $10 billion in assets, 75 percent said they use intermediaries. Funds with more assets are about as likely to use consultants as not. And, Cerulli noted, many investment committees are focusing on policy while delegating daily investment responsibilities to gatekeepers.

"Given the significance of investment consultants, just over half of the asset managers we polled plan on placing an even greater emphasis on fostering consultant relationships," Michele Giuditta, associate director at Cerulli, said in a press release.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and events
  • Access to other award-winning ALM websites including and

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.