kaal:claim:2739479-038

Changing AUM preferences driven by compliance costs could eventually produce industry consolidation aimed at cost savings, or drive a shift toward family offices that manage no third-party assets and therefore escape the regime.

Source quote, verbatim

from a policy perspective, changing AUM preferences associated with compliance costs could eventually result in consolidations that facilitate cost savings or precip- itate a trend towards family offices that do not manage third-party assets.

From

Wulf A. Kaal, The Post Dodd-Frank Act Evolution of the Private Fund Industry Comparative Evidence from 2012 and 2 (2016), V. Summary of Key Findings and Policy Implications, p. 52
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

long-run private fund industry structure
author marks it as unclear whether AUM preference changes become permanent

Classification

predictivesupport: speculativecomplianceregulatory-failure

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