# Strategic response `kaal:entity:strategic-response` **Status.** derived This node is assembled mechanically from the 7 claims that carry the concept tag `strategic-response`. 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 7 claims across 4 works, 2012 to 2016. **2012** - [2150377-021](https://wulfkaal.github.io/claims/2150377-021) [empirical/evidenced] -- Structural and portfolio level responses to registration were rare: only a minority of respondents severed an advising relationship, changed a fund's legal structure, liquidated positions, changed investment styles, changed portfolio structure, or closed funds to new investors. > A minority of respondents: (1) severed an advising relationship, (2) changed funds' (legal) structure, (3) liquidated positions, (4) changed investment styles, (5) changed portfolio structure, or (6) closed funds to new investors. Wulf A. Kaal, Hedge Fund Manager Registration Under the Dodd-Frank Act (2012). SSRN: https://ssrn.com/abstract=2150377 - [2150377-022](https://wulfkaal.github.io/claims/2150377-022) [empirical/evidenced] -- A majority of surveyed advisers, 72.09%, do not plan any strategic response to the Dodd-Frank Act registration and reporting requirements. > Figure 4.0 indicates that a majority (72.09%) of survey respondents do not plan a strategic response to the Dodd-Frank Act registration and reporting requirements. Wulf A. Kaal, Hedge Fund Manager Registration Under the Dodd-Frank Act (2012). SSRN: https://ssrn.com/abstract=2150377 - [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 **2014** - [2389423-028](https://wulfkaal.github.io/claims/2389423-028) [empirical/evidenced] -- The clear majority of respondents prefer an asset size above the $150 million AUM registration threshold after the enactment of Title IV, indicating that advisers respond to the threshold by growing past it rather than staying below it. > The clear majority of respondents prefer an assets size above the registration threshold of $150 million AUM. Wulf A. Kaal, The Impact of Dodd-Frank Act Compliance Cost on the Hedge Fund Industry (2014). SSRN: https://ssrn.com/abstract=2389423 **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 - [2739479-020](https://wulfkaal.github.io/claims/2739479-020) [empirical/evidenced] -- A majority of private fund adviser respondents in both surveys, 72 percent in 2012 and 75 percent in 2015, did not plan any strategic response, meaning any action to avoid or limit the impact of Title IV. > Figure 2 indicates that in both 2012 and 2015 a majority (72% and 75%) of private fund adviser respondents did not plan a strategic response to Title IV of the Dodd-Frank Act. "Strategic responses" in both surveys describe actions taken to avoid or limit the impact of Title IV. 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 - [2739479-022](https://wulfkaal.github.io/claims/2739479-022) [empirical/evidenced] -- Although rare in absolute terms, structural responses grew: at least part of the industry is increasingly changing the legal structure of its funds and closing funds to new investors in response to the post-2012 regulatory changes. > Most notably, the comparative data in Figure 4 suggest that at least a part of the industry is increasingly changing the legal structure of their fund(s) and closing funds to new investors in response to the regulatory changes 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/strategic-response.md | sha256sum **Canonical form.** This markdown file is the canonical hashed representation of this entity node. Its sha256 is the content hash.