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Diversification and globalization themes continue; overall hiring levels remain muted.  
At a European level asset allocation remains stable. Fixed Income dominates, driven by allocations outside the Nordics.   
Consultant use strengthens as the interest rate environment forces investors to revisit strategy and seek advice.  
Multi-asset fees are the highest paid by European institutional investors, followed closely by active developed market equities.  
Consultant use strengthens in Germany as the interest rate environment forces investors to revisit strategy and seek advice.  
Solicitation activity rebounds as anticipated, but large investors are very selective.  
Use of diversified fixed income to drive return has continued to strengthen at the expense of traditional allocations; alternatives hiring expectations are strong.  
Fixed income allocations contract marginally as investors begin deploying assets elsewhere in search of growth.  
Blended default funds remains the dominant option among DC schemes.  
Consultant intermediation slips slightly among corporates as third party advisors increase their presence in the marketplace.  

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