In BlackRock, sub-advisory clients find a responsive, experienced partner. A well-established provider of high quality investment services, BlackRock brings to our sub-advisory relationships a specialized knowledge of the unique needs of these clients. Furthermore, our scale and presence in the open-end and closed-end fund marketplace make BlackRock highly qualified to fulfill the demands of the evolving and complex global regulatory environment.
The same investment teams that manage institutional client portfolios also oversee our sub-advisory mandates. Consequently, sub-advisory fund clients benefit from exposure to our best investment ideas and to our sophisticated state-of-the-practice risk management disciplines.
Moreover, BlackRock strives to provide sub-advisory fund sponsors not only with consistent strong risk-adjusted investment results, but also with the targeted client support necessary to succeed in a very competitive marketplace. For example, as part of BlackRock's commitment to expanding our third-party relationships, we have structured our sub-advisory business to provide clients a full range of sophisticated support services that include wholesaling, marketing and customized product development.