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Asset Allocation

2025 CIO Outsourced Investment Manager Survey

Survey


Outsourcing Arrangements

Outsource or Plan to, by Investable Portfolio Size

$100M
50.0%
$100M – $500M
80.0%
$500M – $1B
75.0%
$1B – $5B
46.7%
$5B – $15B
20.0%
$15B
0.0%

Outsource or Plan to, by Organization Type

Public pension
20.0%
Corporate pension
42.1%
Union pension
50.0%
Endowment or foundation
50.0%
Sovereign wealth fund
0.0%
Insurance general account
0.0%
Health care organization
16.7%

Types of Outsourcing Arrangements

Full discretion
Partial discretion
All respondents
58.3%
41.7%
<$500M
60.0%
40.0%
$500M – $1B
0.0%
100.0%
>$1B
62.5%
37.5%

Amount of Portfolio Outsourced

All respondents
<$500M
$500M–$1B
>$1B
100% outsourced 61.5% 80.0% 50.0% 33.3%
75% – 99% outsourced 15.4% 13.3% 50.0% 11.1%
50% – 74% outsourced 11.5% 6.7% 0.0% 22.2%
25% – 49% outsourced 0.0% 0.0% 0.0% 0.0%
<25% outsourced 11.5% 0.0% 0.0% 33.3%
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