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. 

Edited by: Tommy Fernandez


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