kaal:claim:2739479-028

The finding that advisers size AUM around regulatory cost is in tension with anecdotal evidence, since only a minority of private investment funds pay expenses out of the management fee at all.

Source quote, verbatim

However, this finding is inconsistent with anecdotal evidence sug- gesting that only in a minority of private investment funds would expenses be paid using either all or a portion of the management fee.

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, p. 40
https://ssrn.com/abstract=2739479 · source PDF

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

Holds when

private fund expense allocation practice
survey inference about the AUM decision

Classification

failuresupport: arguedfailure: Cost offset inference in tension with fee practicefamily: research-design-limitationempirical-evidenceprivate-funds

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