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.
Source quote, verbatim
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.
From
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
Cite as
Wulf A. Kaal, The Private Fund Industry Five Years after the Dodd-Frank Act – A Survey Study (2016). SSRN: https://ssrn.com/abstract=2732915
Holds when
respondents who answered yes to survey question 11
extended_bykaal:claim:2739479-034 Passing compliance costs through to reporting funds applies those costs against the funds' trading revenues, w...
extended_bykaal:claim:2739479-035 Among advisers who saw an earnings effect, the attributed cause shifted from direct expense to opportunity cos...
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