Small Asset Managers Grapple for Research.

Publication: Investment Management Weekly

Publication Date: 02-JUL-07

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Changes to how small and mid-tier asset managers obtain research may be coming, as soft dollars continue to be scrutinized and execution costs are being unbundled, according to panelists at a recent New York AQ conference, "Navigating the Research Marketplace."

In the past, research has been viewed as cheap, but that notion is changing.

"No one ever bothered to measure the value of research, and no one knew the implicit cost," said Harold Bradley, CIO at the Kauffman Foundation.

There are a few trends occurring as to how smaller asset managers will get research. One is that they will build their own in-house research team. Another is that they will increase their use of independent research shops. But because of asset managers' move to become self-reliant at research, some...

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