# kaal:claim:2739479-027

**Claim.** Private fund advisers increasingly factor the regulatory structure into decisions about the size of their assets under management, a shift partly explained by the higher post-Dodd-Frank cost structure, since higher AUM and the corresponding fee revenue can offset higher compliance costs.

**Type.** mechanism  **Support.** evidenced

**Holds when.**

- comparison of 2012 and 2015 survey respondents
- AUM sizing decisions

**Source quote.**

> Private fund advisers are increasingly taking the regulatory structure into account in determining their AUM. This can par- tially be explained with the higher overall post-Dodd-Frank-Act cost structure for the industry, which is shown in Figures 6, 8, and 9.

**From.** Wulf A. Kaal, *The Post Dodd-Frank Act Evolution of the Private Fund Industry Comparative Evidence from 2012 and 2* (2016), IV.3. Assets Under Management, page 41

**Cite as.** Wulf A. Kaal, The Post Dodd-Frank Act Evolution of the Private Fund Industry Comparative Evidence from 2012 and 2 (2016). SSRN: https://ssrn.com/abstract=2739479

**Verify.** sha256 of source PDF `b2e7b81a16ab01c73478b62e85068f9dadc5cdd18427241e8bc5e8216a967730` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202016%20-%20The%20Post%20Dodd-Frank%20Act%20Evolution%20of%20the%20Private%20Fund%20Industry%20Comparative%20Evidence%20from%202012%20and%202.pdf

**Topics.** compliance, empirical-evidence, private-funds

**Keywords.** assets-under-management, compliance-costs, regulatory-effects, survey-evidence, private-funds

**Related claims.**

- extends: https://wulfkaal.github.io/claims/2732915-001

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