The Impact of Management Fees on Value: What’s Left After Wall Street is Paid? by Wall St. For Main St
Deciphering Added Value Over the Past 10 Years
We have estimated the 10 year cumulative dollar impact of fees using:
- Top down public fee rates from appendix of quarterly reports to trustees (for 2005-2013 data).
- Bottom up public fees from internal analysis by Bureau of Asset Management (for 2014 data).
- Estimated annualized net cash flows.
External Managers Failed to Keep Up With the Benchmark Over the Past 10 Years
ValueWalk's Raul Panganiban with Maurits Pot, Founder and CEO of Dawn Global. Before this he was Partner at Kingsway Capital, a frontier market specialist with over 2 billion AUM. In the interview, we discuss his approach to investing and why investors should look into frontier and emerging markets. Q2 2021 hedge fund letters, conferences and Read More
Detail of Private Markets Impact
In Private Markets, Private Equity & Real Estate Have Lagged
Only Opportunistic Fixed Income Has Delivered Returns Above Public Market Equivalent (PME) Benchmark
In Public Markets, We Were Narrowly in the Black
But We Paid Nearly All of the Value Created to Wall Street
See full PDF below.