Impact of Change and Evolution in Asset Management Strategies
Explore the transformation in asset management strategies discussed by Dr. Charles Ellis, from traditional methods to modern approaches utilizing technology, derivatives, and global reach. Discover how professionals are adapting to the shift towards indexing and intense competition for access to the best opportunities in the market.
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Presentation Transcript
CHANGE AND ITS IMPACT Dr. Charles Ellis Testimony before the Public Pension Management & Asset Investment Review Commission (PPMAIRC) October 25, 2018 Harrisburg, PA
BACK THEN NYSE 3M Analysts 8-12 Slide Rules Private Meetings Home Country Only Active Investing 5,000
NOW NYSE 3M 5,000 M + Derivatives Analysts 600,600,600 Computer Models SEC Reg FD Global and Global Active Investing 1,000,000+
IT Bloomberg Terminal 0 240,000 Internet 0 Everyone Computers Cage Everywhere
SCALE Major Manager 20 B 6,000 B 1% or 15% or over 100% Fees
PROFESSIONALS 99% 9%
IMPACT 84% Fall Short Increasing Move to Indexing
GREAT INVERSION NOW THEN Client Manager Clients Managers
NEW COMPETITION Clients VS Clients for Access Money Flood More Coming Top Quality Key to Success Lower Returns Intensive Competition for Access to Best
