Sovereign funds are developing in-house portfolio management techniques after the global crisis, a worrying trend for asset management companies, an executive at research firm Cerulli Associates said.
Global asset managers, who have historically pocketed attractive fees by managing a significant share of the sovereign funds, need to be aware of this development while approaching them for funds, according to Shiv Taneja, managing director at Boston-based Cerulli.
"The world's most sophisticated funds are in-sourcing rather than outsourcing. Now that's not very good news for asset management firms," Taneja told Reuters in an interview.
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