# Small funds

`kaal:entity:small-funds`

**Status.** derived

This node is assembled mechanically from the 3 claims that carry the concept tag `small-funds`. 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

3 claims across 2 works, 2012 to 2016.

**2012**

- [2150377-037](https://wulfkaal.github.io/claims/2150377-037) [empirical/evidenced] -- Strategic adjustment to registration is a function of firm size: firms that planned a strategic response to Dodd-Frank were smaller than firms that did not.
  > Firms that planned a strategic response were smaller than those firms that did not plan a strategic response.
  Wulf A. Kaal, Hedge Fund Manager Registration Under the Dodd-Frank Act (2012). SSRN: https://ssrn.com/abstract=2150377

**2016**

- [2739479-009](https://wulfkaal.github.io/claims/2739479-009) [failure/evidenced] *(failure mode)* -- Smaller private funds spend more on compliance than larger ones, both as a share of AUM and relative to operating costs, which means increasing regulatory scrutiny falls disproportionately on smaller funds.
  > Smaller private funds spend more on compliance costs than their larger counterparts—both as a percentage of AUM and in relation to oper- ating costs; this suggests that increasing regulatory scrutiny disproportionately impacts smaller funds.
  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
- [2739479-040](https://wulfkaal.github.io/claims/2739479-040) [failure/evidenced] *(failure mode)* -- Barriers to entry for small firms are becoming an increasing problem in the private fund industry under the evolving post-Dodd-Frank legal environment, with references to such barriers rising from 24 percent of respondents in 2012 to 33 percent in 2015.
  > The 2015 survey responses suggest that barriers to entry for small firms are becoming increasingly a problem for the private fund industry in the continuously evolving post-Dodd-Frank-Act legal environment.
  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

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/small-funds.md | sha256sum

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