The dance cards to the Fund Ball
are getting a tad more exclusive.
Data from the research firm Market Strategies International
shows that the wirehouses and RIAs are cutting down on their fund sponsor relationships, favoring a smaller group of providers than in the past, reports InvestmentNews
The Market Strategies International
data shows that advisers, on average, are placing 39 percent of their assets with a primary provider, compared to 33 percent last year. They are also working with an average of 10 fund firms, compared to 11 last year.
The circle tightening is favoring DFA
and American Funds
with flows. Other firms benefitting from the trend include Russell Investments
, Ivy Funds
, American Century Funds
, T. Rowe Price
and Goldman Sachs
The fund firms that suffered with this trend were Pimco
, and Blackrock
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