# Adviser behavior

`kaal:entity:adviser-behavior`

**Status.** derived

This node is assembled mechanically from the 5 claims that carry the concept tag `adviser-behavior`. It is a roster of what the corpus says under this term. It is **not** an adjudicated definition: no single statement here has been ruled canonical, and no first-appearance call has been made. Read the claims and judge for yourself.

## Every claim under this term

5 claims across 2 works, 2016 to 2017.

**2016**

- [2732915-018](https://wulfkaal.github.io/claims/2732915-018) [empirical/evidenced] -- A majority of private fund adviser respondents, 74.5 percent, do not plan any strategic response to Title IV of the Dodd-Frank Act.
  > majority (74.5%) of private fund adviser respondents do not plan a strategic response to Title IV of the Dodd-Frank Act.
  Wulf A. Kaal, The Private Fund Industry Five Years after the Dodd-Frank Act – A Survey Study (2016). SSRN: https://ssrn.com/abstract=2732915
- [2732915-020](https://wulfkaal.github.io/claims/2732915-020) [empirical/evidenced] -- Private fund advisers in the sample did not terminate existing employment relationships, and only few severed advising relationships, changed fund legal structure, liquidated positions, changed investment styles or portfolio structure, or closed funds to new investors.
  > Private fund advisers in the sample did not terminate existing employment relationships. Few respondents severed an advising relationship, changed funds' (legal) structure, liquidated positions, changed investment styles, changed portfolio structure, or closed funds to new investors.
  Wulf A. Kaal, The Private Fund Industry Five Years after the Dodd-Frank Act – A Survey Study (2016). SSRN: https://ssrn.com/abstract=2732915
- [2732915-027](https://wulfkaal.github.io/claims/2732915-027) [empirical/evidenced] -- Of the advisers who responded, 70.60 percent would not take the current regulatory regime into account in determining the assets under management size of their funds.
  > Of those who responded, 70.60% would not take the current regulatory regime into account in determining the AUM size of their funds.
  Wulf A. Kaal, The Private Fund Industry Five Years after the Dodd-Frank Act – A Survey Study (2016). SSRN: https://ssrn.com/abstract=2732915
- [2732915-029](https://wulfkaal.github.io/claims/2732915-029) [empirical/evidenced] -- Among advisers who factor the regulatory regime into fund sizing, the direction of adjustment is split: 18.2 percent would lower assets under management to avoid the regulatory hassle, while 27.3 percent would still increase AUM and another 27.3 percent seek the right size to cover expenses.
  > While 18.2% would lower their AUM to avoid the regulatory hassle, 27.3% would actually still want to increase their AUM. Another 27.3% indicated a desire to attain the right size to cover expenses.
  Wulf A. Kaal, The Private Fund Industry Five Years after the Dodd-Frank Act – A Survey Study (2016). SSRN: https://ssrn.com/abstract=2732915

**2017**

- [2998097-029](https://wulfkaal.github.io/claims/2998097-029) [empirical/evidenced] -- Since 2010 private fund advisers increasingly engaged in investor due diligence partly to protect themselves from investor criticism and lawsuits, rather than in response to regulatory mandate.
  > the data provided in the author's study suggested that since 2010 private fund advisers increasingly engaged in private fund investor due diligence, partially in an effort to protect themselves from investor criticism and lawsuits.163 Since
  Wulf A. Kaal, Private Investment Fund Regulation - Theory and Empirical Evidence from 1998 to 2016 (2017). SSRN: https://ssrn.com/abstract=2998097

## Verify

Every claim above resolves to a record carrying a verbatim source quote, the sha256 of the source PDF, and a preformatted citation. Nothing here asks to be taken on trust.

    curl -s https://wulfkaal.github.io/entities/adviser-behavior.md | sha256sum

**Canonical form.** This markdown file is the canonical hashed representation of this entity node. Its sha256 is the content hash.