kaal:claim:2732915-034

Among the minority of respondents who believed Dodd-Frank affected fund earnings, the majority attributed that effect to additional compliance costs rather than to lower returns.

Figure 17 illustrates that the majority of those respondents who believed that Dodd-Frank affected their fund(s) earnings blamed additional compliance costs associated with Dodd-Frank.

Wulf A. Kaal, The Private Fund Industry Five Years after the Dodd-Frank Act – A Survey Study (2016), IV. Results, 4. Fund Earnings, p. 31
https://ssrn.com/abstract=2732915 · source PDF

Wulf A. Kaal, The Private Fund Industry Five Years after the Dodd-Frank Act – A Survey Study (2016). SSRN: https://ssrn.com/abstract=2732915

• respondents who answered yes to survey question 11

empiricalsupport: evidencedcomplianceempirical-evidencecitation-and-knowledge

• extended_by kaal:claim:2739479-034 Passing compliance costs through to reporting funds applies those costs against the funds' trading revenues, w...
• extended_by kaal:claim:2739479-035 Among advisers who saw an earnings effect, the attributed cause shifted from direct expense to opportunity cos...

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